US Stock market Technical Analysis November 12, 2019

Positivism before Trump speech

Free $100 Forex No-Deposit Bonus

The market traded on the positive side nearing President Trump’s speech on trade and Economy today. In the speech, investors and traders might get hints on trade negotiations between U.S and China. DJIA futures pointed upward 20 points currently.

The stock market direction will depend on the speech result. Positive development in the trade negotiation is favorable for the bull, while negative development should send the market lower.

Asian & European Stock market

The Asian stock market higher despite the trade uncertainty and Hong Kong demonstration. Japan’s stock market up 188.17 points (+0.81%) to 23,520.01, China stock market up 4.85 points (+0.17%) to 2,914.82, and Australia ASX 200 down 19.50 points (-0.29%) to 6,753.00. The European stock market turn higher on possible auto tariff delay by U.S. DAX Germany up 0.52%, UK FTSE up 0.37%, Euro STOXX600 up 0.20%

Technical Analysis

Dow Jones Industrial Average (INDU)

The index set to continue moving upward and print fresh all-time high. No reason to become bearish in the index yet even though global market situation jittery. Traders will continue to hold long positions in equity until a major change in the index direction happens.

Abbott Laboratories Com (ABT)

ABT trapped between two averages, the daily SMA 100 & 200. The share prices continue bouncing up and down inside the range. Recently, the share prices broke above a bearish trendline and might start putting more pressure on the upside. Traders could apply ranging strategies between the two averages with a bullish bias.

Kimberley Clark Corp (KMB)

KMB touched down at the daily SMA 200 and $130.00 support level. No breakout below the support level yet. It is up to the bull to either maintain the current level or let it go and start a new bearish trend. If KMB could bounce from the averages and close above trendline then we could expect KMB to start moving upward.

Copyright © 2019. 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. FXDailyReport.com 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.