US Stock market Technical Analysis March 30, 2020

Flat start before volatile week?

Free $100 Forex No-Deposit Bonus

U.S stock market expected to open near the flat-level as DJIA futures -21 points before the market open. The 5% fall of crude oil prices might give a bearish impression on the market. Last week, we have a relief rally after a steep drop. However, it might be a dead cat bounce situation only. Traders and investors are assessing the coronavirus impact on the economy.

Most of the countries around the world might need at least 6-months to recover. It is better to wait and see for now until the downturn in share prices losing momentum.

Asian & European Stock market

The Asian stock market continue lower today. Japan’s stock market down 304.46 points (-1.57%) to 19,084.97, China stock market down 24.99 points (-0.90%) to 2,747.21 and Australia ASX 200 up 339.00 points (+7.00%) to 5,181.40. The European stock market traded near zero level. DAX Germany down 0.15%, UK FTSE down 0.90%, Euro STOXX600 down 0.63%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA bullish bounce stopped at 38.2% Fibonacci Retracement level. The index next direction is unclear yet as futures trading near flat point. On the bigger view, the index might continue its bearish movement after the current bullish movement losing momentum.

The index overall direction will continue influenced by the coronavirus situation.

Gamestop Corporation (GME)

GME share prices turned upward after better than expected earnings results. The share prices currently challenging the daily SMA 200 and the top trendline. If a close above both resistances level happen then the share prices expected to overturn the current bearish trend.

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.