US Stock market Technical Analysis October 10, 2019

U.S stock market lower on U.S-China trade talk uncertainty

Free $100 Forex No-Deposit Bonus

The stock market opened lower 19 points and might continue its wild swing while the trade talks on progress. After several events before the trade talk, it seems both parties will once again not reach an agreement. South China Morning Post writes, China’s Vice Premier Liu He will leave Washington on Thursday, earlier than the previous plan on Friday.

At the current time, there might be not much movement in the market until the result of the trade talk out.

Asian & European Stock market

The Asian stock market positive on Trump – Huawei optimism. Japan’s stock market up 95.60 points (+0.45%) to 21,551.98, China stock market up 22.85 points (+0.78%) to 2,947.71, and Australia ASX 200 up 0.40 points (+0.01%) to 6,547.10. The European stock market mixed. DAX Germany down 0.09%, UK FTSE up 0.14%, Euro STOXX600 down 0.21%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA moving between two trendlines and 26,000 – 27,000 range. No change to the situation, the market seems will trade cautiously ahead of U.S-China trade talks. No deal once again on the card which means the index could become under pressure after the talk.

Dicks Sporting goods Inc (DKS)

DKS broke above its bearish channel in September. The share prices continue upward and challenge April high before turned lower. We could see the share prices testing the top of the broken channel and show an indication of bounce. If DKS could continue upward then it will test the $41.53 high. On the other hand, if the share prices move lower then a cluster of average will become the supports to watch.

Ebay Inc (EBAY)

EBAY share prices pulled down and reach its daily SMA 200 recently. The share prices might bounce from the support level and target the flip level around $38.50. Weakness might continue and $35.50 is the lowest level to watch for short-medium-term.

Copyright © 2020. 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. 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.