US Stock market Technical Analysis October 11, 2017 – FX Daily Report

This post was originally published on this site

The stock market continues to push higher ignoring all analyst warning and soon will reach the higher barrier. DJIA closed at 22,830 in the previous day bring 23,000 in sight and must be reached. The market will observe the release of FOMC meeting minutes and decipher the Fed plan for interest-rate.

Asian stock market move up today with Nikkei up 57.76 points (+0.28%) to 20,881.27, Shang Hai Composite up 6.06 points (+0.18%) to 3,389.05 and Australia ASX 200 up 34.03 points (+0.59%) to 5,772.15. European stock market mostly mixed after Catalonia decide to pull back from independence vote. DAX Germany up 0.03%, UK FTSE down 0.07%, Euro STOXX 600 down 0.05%.

Technical Analysis

Dow Jones Industrial Average (INDU)

Dow Jones Industrial Averages on track higher, but the futures pointed lower today before market open. There is a possible pullback from the current level, but in the index could reach 23,000 in coming days or weeks.

Alphabeth Inc (GOOG)

GOOG advance reached the previous record high at $988.25 where the prices experience selling. If the reversal continues, we could expect GOOG to move down and reach daily averages with possible extension to the bottom range at $910 – $920

Potash Saskatchewan (POT)

POT is in a bullish trend since the share prices claimed position above daily SMA 200. If the bear pushes the price lower,  bull traders could look for long position near the trendline or around $18.50.

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