Preparation for the end of year 11.18
Thank you for your continued support today as well.
This is ERE.
*This article does not指示 the timing of buying or selling, nor does it recommend it.
Please make your own investment decisions.
Market Summary
The Dow average was unable to break 30,000 and slipped.
As mentioned in yesterday's article, in the Tokyo morning session profit-taking on the Nikkei pushed the index down briefly below 26,000.
There is no current catalyst to push prices higher, and even if vaccine fundamentals emerge, the reaction will be limited.
Since the same move has occurred twice, the market is unlikely to follow easily.
While the FX market has been trading flat, the dollar-yen fell, briefly breaking recent lows to as low as 104.07.
There is a horizontal level that has been tested three times; the focus is whether 104 yen can hold, and if it breaks, losses could accelerate with stop-loss triggering a significant drop.
Also, I mentioned crude oil in the article, and since news of an extension of production cuts was surprisingly announced yesterday, I will pay attention to its developments.