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US30 moves into bullish area, but caution is suggested given market headwinds.
FXCM's Dow Jones Industrial Average CFD, US30, is in the weak zone of its daily chart, between the lower blue and red bands. Therefore, it will be positive if it moves up into the neutral area, between the blue bands (green arrow). However, the hourly chart on the right needs to continue with its bullishness to make this progress. The hourly EMAs and stochastic have crossed bullishly (black ellipses). Still,…
The US30 hourly is battling short-term overhead resistance. The daily chart will move into a more bullish area if it can beat it.
Read the daily market update as the European session gets underway, to get some of the latest developments, main market moves and upcoming events
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The hourly FXCM CFD for the Dow Jones Industrial Average (US30) contends with the overhead resistance confluence. The index is near 33,025, with the central pivot overlapping price resistance horizontal. The hourly trend following indicators have crossed positive, and the stochastic is making its way towards the 80+ areas. If the stochastic can maintain the upper quintile, an underlying bullish momentum may help lift the index.
This was a bad week for equities due the war in Ukraine, but besides that, we got many interesting corporate news that spanned from earnings, to delivery updates from Nio and Xpeng, Ford’s EV acceleration and other noteworthy developments
The hot Electric Vehicle (EV) start-up that focuses on trucks and SUVs, reports its financial results for the fourth quarter of 2021, on Thursday March 10 after the US markets close
The fact that the bears have not been able to take the US30 lower, given the invasion of Ukraine, and the emotion of fear associated with a risk-off sentiment, is intriguing. As such, we continue to monitor for bullish follow-through. A swing low will have charted if the price does take out last week's high. This appreciation would be considered a bullish development. However, caution will still be the order…
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