Market News
- U.S. stock futures were tracking in a tight range during Thursday’s evening deals, with markets remaining closed for the Thanksgiving public holiday. European markets remained upbeat on Thursday as investors assessed the latest meeting minutes from the U.S. Fed.
- Tokyo’s core consumer price index rose 3.6% in November on an annualized basis, more than the 3.5% expected in a Reuters poll, marking the fastest annual pace Japan’s capital has seen since April 1982, and significantly above the Bank of Japan’s inflation target of 2%.
- Oil prices fell Thursday as the market digests the possibility of a higher-than-expected price cap on Russian crude. European Union governments have not yet agreed and are currently discussing the proposal, but a price cap at this level would likely mean that Russia will continue to sell its oil, reducing the risk of a supply shortage in global oil markets.
Market Views
- Shares in the Asia-Pacific were mostly lower on Friday as markets in the U.S. were closed for the Thanksgiving holiday. Hang Seng index slid 169 points and Nikkei 225 index dropped 112 points.
- China’s reported Covid cases continued to rise Thursday. Zhengzhou, where protests took place at Apple supplier Foxconn’s iPhone factory, said it would conduct mass testing, resulting in more than 2% losses in Hang Seng Tech index.
Dow Jones Index
(CFD Symbol: US30)
Trend:
Recommendation:
Last: 34,204
Target price:
Protective stop:
Outlook
This index is currently trading near its previous price high resistance zone. There is potential divergence warning given from MACD. We could see price falling to 20EMA at 33,270 if it unable to surpass this resistance zone.
Trading Idea
Wait for better trading idea
Hang Seng Index
(CFD Symbol: HK50)
Trend:
Recommendation:
Last: 17,469
Target price:
Protective stop:
Outlook
This index has been undergone a price correction. It is currently being supported by the 20EMA support at 17,250. As long as this support holds, we see price rebounding to retest its high again. Stochastic is still strong and MACD is bullish.
Trading Idea.
Buy 17,300 for 18,350 with a stop below 16,600.
Nasdaq 100 Index
(CFD Symbol: USTec)
Trend:
Recommendation:
Last: 11,698
Target price:
Protective stop:
Outlook
Price rebounded after being supported by the 20EMA three nights ago. It is currently trading near to its previous high resistance zone. We could see price retracing to the 20EMA at 11,565 if it unable to surpass this resistance zone.
Trading Idea
Wait for better trading idea.
Nikkei 225 Index
(CFD Symbol: JP225)
Trend:
Recommendation:
Last: 28,288
Target price:
Protective stop:
Outlook
This index is trading near to its previous high resistance zone. A shooting star candlestick pattern was formed yesterday and a confirmation candle is in the process of making. We are likely to see price retracing to the 20EMA at 27,920. Stochastic is at the overbought zone and MACD is giving potential divergence warning.
Trading Idea
Wait for better trading idea.
