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Market fear is back, a new bearish wave is more likely scenario
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Loading...Stock markets around the world have begun a new wave of declines, accumulating the new $ 200 billion White House import bill with Chinese commodities.
US Trade Representative Robert Lighthizer called Trump's response "appropriate" and said Chinese revenge measures are "without any international legal basis".
As a result, the fear of the market has returned with full force. Following the fall in stock markets in Asia, the negative wave will shift to European stock exchanges as well. As for the futures of the US indices, SP500 and Dow Jones, the price did not go above the main levels of horizontal resistance and remained in the consolidation formed by the beginning of March 2018. Although these tariffs had already been discussed last week and the market had time to react, this did not happen. For this reason, we can expect stock market declines to remain, and a bottom test at the beginning of the month is the most likely scenario.
Source: CNBC
Trader Petar Milanov Read more:
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