US Stock market Technical Analysis September 13, 2018

The U.S – China trade talk to lift the market

Free $50 Forex No-Deposit Bonus

The stock market in Asian and European market gained on the reignition of trade talk between U.S and China. In the latest 24 hours, U.S source said the country looking to resume trade talks after China seek World Trade Organization to impose a sanction on the U.S. The situation is cheered by the market and helped stock market to notch gain.

Bank of England will release minutes of the meeting which could impact the market. Aside from BOE, European Central Bank also will hold a press conference.

Asian & European Stock market

Asian stock market marches higher today. Nikkei up 216.71 points (+0.96%) to 22,821.32, Shang Hai Composite up 30.47 points (+1.15%) to 2,686.58 and Australia ASX 200 down 47.20 points (-0.76%) to 6,128.70. European stock market also follows Asia lead. DAX Germany up 0.40%, UK FTSE down 0.43%, Euro STOXX600 up 0.08%.

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA attempt to rally in the previous day but the index hit the wall as the rally losing steam and close the day near its opening level. Today, the bullish sentiment might brew once again as futures holding gain in Asian and European session. If the index continues higher, then it is expected to move inside the bullish channel.

Chesapeake Energy (CHK)

CHK broke above its daily SMA 200 and continue its rally to reach high at $5.6 before started a downward correction. The downward correction brought the share prices down to test SMA 200 at $3.90. Currently, traders could use the level to enter a long position.

Starbucks Corp (SBUX)

SBUX upward correction almost reaches the daily SMA 200 where it will close the price gap. When the price gap closed, the share prices expected to resume its bearish trend. However, an upside breakout also possible. If the share prices manage to breakout higher then $60.00 is the target before correction toward SMA 200 happen.

Copyright © 2018. 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.