DOW Jones has been rallying for four consecutive weeks upon last Christmas. Resistance ~ 24300 (R1) was broken last week. Market was cheering for potential easing of trade tension between US and China. US Federal tends to be much dovish regarding to rate hike path ahead. Oil price has been stable as well. At the moment, most positive catalyst are playing out in market sentiment. Looking forward, a downward trend line (R2) could serve as next resistance. Profit taking could be in action shall any small negative news in play.
Earning results among listed companies would be next attention among markets. Some of the US index stocks missed forecast of earning. Local blue chips yet to release any results. Barring unforeseen scenario, ~ 22400 would serve as strong support for any price correction ahead.
Market Calendars:
Capitaland, Keppel Co, SGX and few REITs are going to announce earning results on coming week.
No comments:
Post a Comment