{"id":2381,"date":"2020-09-22T16:17:00","date_gmt":"2023-03-31T20:19:06","guid":{"rendered":""},"modified":"2024-05-29T08:08:47","modified_gmt":"2024-05-29T08:08:47","slug":"market-daily-outlook-stocks-in-recovery-mode","status":"publish","type":"post","link":"https:\/\/blog.zulutrade.com\/ar\/market-daily-outlook-stocks-in-recovery-mode\/","title":{"rendered":"Market Daily Outlook – Stocks in Recovery mode"},"content":{"rendered":"

All major indices experienced a heavy selling pressure yesterday though the tech index managed to close near to break even. Main events seem to be the potential new lockdowns due to coronavirus spread as well as the possible delay on additional stimulus from US Congress. EU markets suffered higher losses as GER30 and FRA40 fell by more than 3%. <\/span><\/p>\n

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On major US news, Jerome Powell, FED’s Reserve Chairman, <\/span>said <\/span><\/a>that “ many economic indicators show marked improvement” however it will be a long way before having a full recovery. JP Morgan <\/span>believes <\/span><\/a>that the US is still safe from being “Japanized” in comparison to EU and UK markets. Trump is <\/span>going <\/span><\/a>to have a meeting with a group of Republican state attorneys general in order to discuss the online censorship by the social media companies. Worth mentioning that Nikola shares tumbled on Monday after Trevor Milton announced that he would be resigning from his position as chairman. <\/span><\/p>\n

On major EU-UK news, Boris Johnson strongly <\/span>recommended <\/span><\/a>“Work from Home” to everyone and the extension of face masks across a range of areas. Pubs and Hospitality venues will close at 10pm from Thursday. BOE’s governor, Andrew Baley has left the scenario open for having negative rates. Ifo institute announced that Germany’s economy would possibly decrease by 5.2% this year. <\/span><\/p>\n

On Asia news, Australia’s central bank is thinking of currency market intervention as well as negative rates as a measure to fight the COVID-19 crisis.<\/span><\/p>\n

Reviewing the technical view, there is a potential bearish formation (ABCD) on NAS100. The index rebounds and is heading towards 20 EMA and 50 SMA which both act as major resistance. GER30 reversed after reaching 20 EMA on the weekly timeframe.<\/span><\/p>\n

NAS100 Daily
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<\/span><\/p>\n

GER30 Daily
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XAUUSD violated the symmetrical triangle to the downside but the commodity is currently trimming its losses. A potential retest of the lower side of the triangle could be a bearish continuation signal.<\/span><\/p>\n

XAUUSD 240min
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<\/span><\/p>\n

USOil held above 38.2% Fibonacci level as well as 50 SMA. Most probably, the Libya’s decision and coronavirus have caused this short-term correction.<\/span><\/p>\n

USOil 240m
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<\/span><\/p>\n

Disclaimer<\/strong><\/p>\n

The views expressed do not constitute investment or any other advice \/recommendation \/suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of<\/span> ZuluTrade Social Trading Platform<\/span><\/a> and do not constitute an offer or invitation to anyone to invest or trade.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

All major indices experienced a heavy selling pressure yesterday though the tech index managed to close near to break even. Main events seem to be the potential new lockdowns due to coronavirus spread as well as the possible delay on additional stimulus from US Congress. EU markets suffered higher losses as GER30 and FRA40 fell […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"close","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2381","post","type-post","status-publish","format-standard","hentry","category-market-view"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1716970003:4"],"rank_math_seo_score":["19"],"rank_math_og_content_image":["a:2:{s:5:\"check\";s:32:\"cf9a2d1166c6a36560feae300fbb95a9\";s:6:\"images\";a:4:{i:0;s:56:\"\/image.axd?picture=\/2020\/2292020\/NAS100Daily 2292020.png\";i:1;s:56:\"\/image.axd?picture=\/2020\/2292020\/GER30Weekly 2292020.png\";i:2;s:53:\"\/image.axd?picture=\/2020\/2292020\/XAUUSDH4 2292020.png\";i:3;s:56:\"\/image.axd?picture=\/2020\/2292020\/USOilSpotH4 2292020.png\";}}"],"rank_math_analytic_object_id":["159"]},"pll_post_group":null,"_links":{"self":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/comments?post=2381"}],"version-history":[{"count":1,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2381\/revisions"}],"predecessor-version":[{"id":3983,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/posts\/2381\/revisions\/3983"}],"wp:attachment":[{"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/media?parent=2381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/categories?post=2381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.zulutrade.com\/ar\/wp-json\/wp\/v2\/tags?post=2381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}