Stock futures gaining before the market open

U.S stock futures continue gaining to extend the consecutive bullish closes this week. It seems the index will close the first quarter on the bullish side after several blows at the beginning of this month. We might see the upward movement continue as traders and investors will turn back to observe earnings results from companies. Traders will continue holding long positions and add more positions when a bearish movement happens as the Fed might be at the end of its rate-hike policies.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index closed near the daily SMA 200 and now will test the cluster of averages. The index might continue the bullish movement and move toward the top trendline. However, traders will monitor the index reactions near the current level for now. If the index gets rejected with strong bearish reactions then we might see a bearish continuation to target a new lower low. On the upside, a close above the trendline might become the medium-long term bullish confirmation.

Cleveland Cliffs Inc (CLF)

CLF share prices are trading at an interesting level. The share prices might resume the bullish movement when they could make a close above the daily SMA 200. At the current time, a consolidation below the daily SMA 200 happening. As long as the share prices not printing a new lower low, there is a chance of a bullish reversal to target a new higher high.