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Main » 2019 » May » 30 » What the trader earn today? Trading Ideas in 30/5/2019: A good opportunity to sell the SP500!
11:44
What the trader earn today? Trading Ideas in 30/5/2019: A good opportunity to sell the SP500!

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The US stock market continues to develop a downward trend. The SP500 index, as most risky assets, is under pressure from increased trade conflict between the United States and China represents a significant threat to global economic growth. On the eve of the official Chinese media have warned that Beijing could use the US dependence on rare earth elements from China in response to restrictions imposed by the United States. Earlier, US President Donald Trump said that "is not yet ready to conclude an agreement with China." 

 

 

AMarkets

 

 

It should be noted that the trade dispute continues to deteriorate and at the corporate level. Huawei Technologies on Tuesday filed a lawsuit against the US government in an attempt to lift the sanctions imposed by Washington. The uncertainty in the field of foreign trade has increased the demand for US Treasuries, which led to the revolution of the yield curve between the 3-month and 10-year bonds. On Wednesday, the yield on 10-year Treasury bonds reached 2.21% - the lowest level since September 2017 Today, the US stock market in danger of being under pressure from weak national statistics. At 15:30 Moscow time the attention of traders will be presented to the annual data on US GDP. According to forecasts, the US economy growth rate fell by 0.1% to 3.1% in the first quarter of 2019. If the forecast is confirmed, the threat of recession becomes more real.


SP500 SellLimit 2810 TP 2700 SL 2840


Brent crude on Wednesday trading week low reached at the level of $ 66.6 per barrel, however, by the end of the session was able to recover up to $ 67.87. Despite the upward correction, the initiative rests with the sellers who do not lose hope to get to the nearest significant support in the $ 65 per barrel. Throughout the week, it was clear that traders need a new fundamental driver. Today, market participants will be presented with data on changes in stocks of crude oil and petroleum products in the United States. Recall that due to the celebration of Memorial Day on Monday, US Energy Department report will be published with a delay of one day. On Wednesday, data from the EIA reported an increase in inventories by 4.7 million. Barrels, which was a complete surprise for market participants predict that given the start of the season of increased fuel demand from motorists, stocks should be reduced. In the event of conflicting data as today, sellers chances closer to the coveted level of $ 65 per barrel increase many times. Factors of the decrease in oil quotations are still worsening US-China trade dispute, as well as the consequent reduction in risk appetite. June 1 will enter into force on higher Chinese import duties on goods from the United States. Investors believe that the response to these actions of the US will impose duties on the rest of the Chinese imports, but it is the goods for another $ 320 billion. Against this background, the priority reserve of hydrocarbons sales. Factors of the decrease in oil quotations are still worsening US-China trade dispute, as well as the consequent reduction in risk appetite. June 1 will enter into force on higher Chinese import duties on goods from the United States. Investors believe that the response to these actions of the US will impose duties on the rest of the Chinese imports, but it is the goods for another $ 320 billion. Against this background, the priority reserve of hydrocarbons sales. Factors of the decrease in oil quotations are still worsening US-China trade dispute, as well as the consequent reduction in risk appetite. June 1 will enter into force on higher Chinese import duties on goods from the United States. Investors believe that the response to these actions of the US will impose duties on the rest of the Chinese imports, but it is the goods for another $ 320 billion. Against this background, the priority reserve of hydrocarbons sales.

 

Brent SellStop 67,90 TP 65,20 SL 68,40

 

Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets.

 

 

 

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