Trade deal between U.S-China near finalization, stock market optimistic

The situation of global market mostly optimistic today as there are news U.S and China nearing to reach a deal. On the report, China offered to lower tariffs on products categorize in chemicals to autos. U.S officials ready to respond to the lower tariff by eliminating most of the tariff sanction applied last year.

At the end of the week, President Trump criticizes The Fed policy which leaning to strong U.S dollar. This week, the trade deal between U.S-China will become the major element to watch.

Asian & European Stock market

Asian stock market climb today. Japan stock market up 219.35 points (+1.02%) to 21,822.04, China Shanghai Composite up 33.57 points (+1.12%) to 3,027.58, and Australia ASX 200 up 24.70 points (+0.40%) to 6,217.40. European stock market follow Asia March higher. DAX Germany up 0.03%, UK FTSE up 0.45%, Euro STOXX600 up 0.32%.

Technical Analysis

Dow Jones Industrial Average (INDU)

Another close near 26,000 happened in DJIA and send us a neutral signal. The index not rejected from the resistance but could not climb above it. The range of movement continues contained between 25,800 – 26,000. There is no clue yet on the next direction.

Air Products & Chemicals Inc (APD)

APD formed a bearish engulfing pattern on the previous trading day. The bearish pattern needs a breakout and close confirmation below it. If the bearish pattern confirmed then APD might start downward correction toward 23.6% – 38.2% Fibonacci Retracement level. We think the level around $170.00 is the best level to take long positions.

JD Com (JD)

JD might be an interesting share price to watch as it currently challenging daily SMA 200. The upward movement surpassed its bullish channel recently. Will it continue higher above the averages in coming days?

If JD could close above SMA 200 then we expect the share prices will continue its ascent toward $31.1