Subtle Shifts Raise Hopes For A Cease-Fire In The Russo-Ukrainian War, DJ30 Is Expected To continue To Rebounds.
Ukraine released the goodwill of compromise and it caused the returned of the market risk aversion. The DJ30 may fluctuate and rebounds.
Aggressors are recommended to consider marginal Long around the price of 33240. Take profit at 33810, and Stop loss at 33100. Non-Aggressors are advised to wait for better entry.
Ukraine’s ruling party said that it is impossible for Ukraine to join NATO in the next few years. At the same time, they proposed that in exchange, Russia must guarantee that Kyiv would never be threatened. This is the expectation of The President of Ukraine, Volodymyr Zelenskyy is looking for. Also, The Crimea, Donbas region and other issues would be able to made a concessions, and he hopes the Russian government can also be ready. The market believes that there may be further progress in the fourth round of negotiations, the geopolitical tension has eased, and the prices of bulk commodities have fallen sharply. It is reducing the market’s concern about the situation. High inflation may lead to concerns about stagflation, which will boost the market risk aversion. In addition, the previous US manufacturing PMI and non-farm payrolls data in February were positive, which is an advantage for the DJ30 remain the sign of bullish.
In the day chart, above 5MA and below 10, 20, and 60MA, the short-term is oscillating. The H4 chart, the KD golden cross is rising, the MACD column is increasing and its in a positive value. The multi-party kinetic energy is strengthened. Please do wait for the price to rebound, and it is recommend to place a buy order with light position.
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