Asian markets traded mixed amid fears of next week China growth data. China will post second quarter GDP data on Monday, and chinese finance minister forecasting only 7%. Even though poor data came for factory figures, European shares are extending the gains as they are still under Bernake`s soothing words of not cutting the stimulus.
US stock index futures are slightly up these morning, as JPM and WFC posted their earnings and beat market expectations.
Let have a look at Dow Jones Futures daily and 1hour chart:
/YM_F slightly higher this morning, you can notice 15419, a high from yesterday is acting as resistance. June PPI are up 0.8% didnt do much to move the prices. Stochastics are up above 80 level, RSI also above 50. I am reluctant to go long at the highs, and technicals dont give sell signal, so I would prefer /YM to go to the pivot level of 15369 before enter on confirmed breakout of either low of the day 15358 or above high of the day around 15420.
As you can see on daily chart we have confirmed uptrend and i would recomend not to go against it but rather going long on retracement with clear entry and exit targets and appropriate size position to suit your risk level.
US stock index futures are slightly up these morning, as JPM and WFC posted their earnings and beat market expectations.
Let have a look at Dow Jones Futures daily and 1hour chart:
As you can see on daily chart we have confirmed uptrend and i would recomend not to go against it but rather going long on retracement with clear entry and exit targets and appropriate size position to suit your risk level.
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