Dow Maintains Stability While Hang Seng Faces Decline and Nikkei 225’s Surge Persists

By Daniel M.

March 19, 2024   •   Fact checked by Dumb Little Man

Dow Shows Resilience in Opening Trades

Source: DailyFX

The Dow managed to hold onto its trendline support as Monday’s session closed lower than its peak moments. Despite this, there hasn’t been a significant downturn. The market’s eyes are now on the upcoming Federal Reserve’s interest rate decision, which could alter rate projections for the remainder of the year.

A downward move past the trendline support could lead to the Dow touching the 50-day simple moving average (SMA), and potentially descending to its prior peak at 37,816.

Hang Seng Nears Critical Support Level

Source: DailyFX

Last week’s initial recovery lost its momentum, yet the index stays above its trendline support traced back to January’s low. A breach of this support line would confirm a stronger bearish sentiment, as would dropping below the early March nadir of approximately 16,100.

Nikkei 225 Advances Following Bank of Japan’s Policy Update

Source: DailyFX

The Bank of Japan’s (BoJ) move away from negative interest rates was anticipated and did not disrupt the Nikkei 225’s upward trajectory. The index has resumed its rally, leveraging the support line from January and is now advancing towards the 40,000 mark.

Should the gains continue, the next target is the 6 March peak at 40,574, setting the stage for unprecedented highs. Only a retreat beneath the trendline support would challenge this bullish outlook.

Daniel M.

Daniel Moore is a seasoned trading analyst with over 20 years of experience navigating the ever-evolving financial landscape. Renowned for his unconventional yet effective approach, Daniel utilizes a blend of technical and fundamental analysis to identify hidden gems and craft winning trade strategies. He is a master at demystifying complex market data and translating it into actionable insights for traders of all experience levels.

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