US Stock Market Technical Analysis | November 17, 2021

U.S stock futures stick near the flat line

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Inflation has been a major concern globally as the rate of increase shows an aggressive gain. Today, the UK reported the highest inflation in 10-year. The number rise to 4.2% from 3.1% previously and higher than analysts expectation of 3.9%. It seems the era of low interest-rate might come to an end soon.

Traders and investors will focus on retail earnings release today from Target (TGT) and Lowe’s (LOW).

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA index trading sideline for several days, not far from the record high. It seems the market take breather and the index future currently trading not far from the 0 levels. We might see the index continue trading sideways for now. If the index trade lower then the horizontal line around 35,500 will provide support.

Kellogg Company (K)

K share prices seem to point lower as it continues printing lower swing high and lower swing low. At the current time, the share prices are trading near the resistance trendline. If it could breakout upward then there is another bearish trendline to watch. On the other hand, if the share prices breakout below the averages then it is set to move lower and print another lower swing low.

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