DOW JONES INDUSTRIAL INDEX
U.S. stocks were lower after the close on Thursday, as losses in the Basic Materials, Healthcare and Utilities sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average fell 0.47%, while the S&P 500 index declined 0.10%, and the NASDAQ Composite index lost 0.13%.
Based on the current price movement on US30 we could see that the overall trend is bullish. Price seems to have broken previous structure to the upside and is currently on a pullback to the support zone which is between 36175 and 35874. We could see that theres a confluence between the 50EMA, and the FIBO golden level. The RSI and MACD are above there centreline which signifies an uptrend.
Sluggish consumer spending has dragged down China’s economy since the pandemic.
Along with the property market, consumption is one of two areas economists are most concerned about in their China growth outlook. Consumer spending is also the sector that businesses and investors have bet on as they expect China’s middle class spending power to grow in coming years.
From the overview of price in china 50 we could see that the overall bias seems to have shifted from bullish to bearish. Price seems to have broken the upward trendline in conjunction with previous structure to the downside. Price is likely going to retest the support zone between 15648 and 15428 before moving to the downside. the RSI and MACD are below there centreline for added confirmation.
The overall trend for AUDJPY is bullish. Price seems to be in a pullback to the support level between 82.362 and 81.724 which also has confluences withe the upward trendline, the 50 EMA and the FIBO golden retracement levels. We could also see that the RSI and MACD are above the centreline for an uptrend.