Flat opening on the card

The U.S stock market is set to open flat today after the bullish recovery made this week. The bullish movement might be fueled by the Fed accommodative policies but the next sentiment will depend on Congres’s decision on stimulus. If there is no stimulus deal then we might see a further pullback in the stock market.

Aside from the news, the U.S government set to ban TikTok and WeChat download on Sunday. No news on Oracle – TikTok deals yet, the movement by the U.S government might be the answer toward Oracle-TikTok proposal.

Asian & European Stock market

The Asian stock market slightly higher. Japan stock market up 40.93 points (+0.18%) to 23,360.30, China stock market up 67.65 points (+2.07%) to 3,338.09 and Australia ASX 200 down 18.70 points (-0.32%) to 5,864.50. The European stock traded mixed. DAX Germany up 0.19%, FTSE UK down 0.46%, Euro STOXX 600 down 0.09%

Technical Analysis

Dow Jones Industrial Average (INDU)

DJIA pushed lower in the previous trading day but the index manages to recoup lost and closed above the opening level. We might see the index continue to stick near the 28,000 and aiming to return inside the 28,000 – 29,000 range. No strong clue yet as of now as the DJIA futures traded near the 0 levels.

As long as the index maintains the level above the daily SMA 50, the trend will continue bullish.

Anglogold Ashanti (AU)

AU share prices currently trading between $27.50 – $30.00 area. The sideways movement has started since last month. If the share prices move lower then we expect it will find support near the daily SMA 200 or the level around $23.50. Traders could consider entering long positions near the support levels.