MTS Futures News_PM_20180925

MTS News

MTS Futures News_PM_20180925

25 Sep 2018

• S&P500 Technical Analysis: Bull trend remains intact as bulls support S&P500 above 2,900.00

S&P500 is pulling back slightly after reaching an all-time high last Thursday.

S&P500 found some buying interest near 2,917.00 (August 29 high) as the bulls are keeping the main bull trend intact. The 50, 100 and 200-day simple moving averages rising and widening while the RSI, MACD and Stochastics are in positive territories.

Bull targets might be located near 2,938.00 and 2,950.00.

Main trend: Bullish

Resistance 1: 2,938.00, 138.2% Fibonnacci extension (Aug-Sept, high/low)

Resistance 2: 2,950.00, 161.8% Fibonnacci extension (Aug-Sept, high/low)

Resistance 3: 3,000.00 round figure

Support 1: 2,917.00 August 29 high

Support 2: 2,900.00 figure

Support 3: 2,877.00 January swing high

• European stocks traded mostly higher on Tuesday morning, supported by strong earnings.

The pan-European Stoxx 600 was about 0.3 percent higher with the various sectors trading mostly in positive territory.

• Asia stocks struggled on Tuesday as a fresh round of U.S.-China tariffs and a surge in oil prices to near four-year highs added to worries about risks to global growth.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged down 0.15 percent. But Japan's Nikkei .N225 bucked the trend and edged up nearly 0.2 percent.

• Japan’s Nikkei rose for a seventh session on Tuesday helped by gains in chip-related stocks that offset weakness in construction equipment manufacturers, which fell on worries that a new round of U.S.-China trade tariffs could hurt global demand.

Investors returned to the market after a national holiday on Monday.

The Nikkei share average gained 0.3 percent to 23,940.26, rising for the seventh straight session. The benchmark index hit its highest in more than eight months after rising U.S. yields pushed up financial stocks while the weak yen supported overall sentiment.

Market analysts said that investors are monitoring the outcome of trade talks between Japan and the United States this week.



Reference: Reuters, CNBC

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