U.S futures edge higher after Iran decision

The stock market future in the U.S pointed upward with Dow Jones Industrial Averages up 91 points when European session open. The U.S decided to pull out of the nuclear deal and reimpose sanction on Iran. The decision seen will limit the supply of oil to the market and bring the price up.

The news being digested by the market currently. However, investors and analysts my weigh more on the upcoming meeting between Trump and North Korean leader Kim Jong Un.

Today economic news release to watch is the PPI data which expect to record a gain of 0.2% MoM.

Asian & European Stock market

Asian stock market mostly lower today. Nikkei closed down 99.81 points (-0.44%) to 22,408.88, Shang Hai Composite closed down 2.68 points (-0.08%) to 3,158.81 and Australia ASX 200 up 16.10 points (+0.26%) to 6,108.00. European stock market, on the other hand, took the higher path. DAX Germany up 0.09%, FTSE UK up 0.39%, and Euro STOXX 600 up 0.18%.

Technical Analysis

Dow Jones Industrial Average (INDU)

Dow Jones Industrial Averages has not left the triangle consolidation on the daily chart. The index is currently testing the top of the triangle, will it break upside or bounce down to test the bottom of the triangle? There is no conclusion yet, and traders might stay sideline for a while.

First Solar Inc (FSLR)

FSLR experienced a trendline violation, and the share prices closed three days below it. The violation is not severe, and there is possibility bull could bring the share prices back above the trendline. Long position at current level with a stop below the recent low could become a successful trade.