Stock futures edge higher
The stock market on Tuesday ready for a higher open as stock futures pointed upward. Dow Jones Industrial Average up 30 points before the market open. There are no major news releases today which might not give much influence to the current traction of DJIA.
The only major news comes from Reserve Bank of Australia which hold interest rate unchanged. The governor said in the conference, Australia higher exchange rate against U.S dollar weighed the outlook for output and employment.
In Asian, Nikkei up 213.29 points (+1.05%) to 20,614.07, Australia ASX 200 down 27.89 points (-0.49%) to 5,701.44. Meanwhile, in Europe, the situation mixed as concern grow in Spanish after Catalonia call for independence.
Technical Analysis
Dow Jones Industrial Average (INDU)
There is nothing could reverse the upward pressure in Dow Jones Industrial Averages chart yet as the index print new record high. The path toward 23,000 is clear, and bear traders might keep away from the bull charge upside.
Occidental Petroleum Corp (OXY)
OXY is in focus after the prices cross daily SMA 200 and recently print a bullish candlestick after the test. Adjacent to oil prices advance, OXY might start a new bullish trend above the daily averages.
Other Watchlist
WMT – minor reaction from the daily SMA 100. Might continue upside.
WDC – Testing the daily SMA 200, look for a bullish pattern.