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June 28th - According to Saudi media outlet Alhadath: The Iraqi and Iranian foreign ministers held a press conference in Baghdad. The Iraqi Foreign Minister stated that the Iranian Foreign Ministers visit was of great significance. Iran is an important neighbor of Iraq. Iraq has played a crucial role in communication between the US and Iran. He discussed many issues with Araghzi, including bilateral relations and the US-Iran memorandum of understanding. He emphasized the importance of opening the Strait of Hormuz and lifting the maritime blockade. The war and the blockade of the Strait of Hormuz have negatively impacted our economic situation. The closure of the Strait of Hormuz has disrupted Iraqs oil supply. Iraq does not support escalating the war, nor does it support aggression against Iran. The continuation of the war will lead to regional destruction. The region must protect itself.June 28 (Xinhua) -- According to sources in Manama, Bahrain, the Bahraini Defense Forces Command issued a statement on the 28th saying that Bahrains air defense system successfully intercepted and destroyed missiles and drones originating from Iran. The statement said that Iran continues to take hostile actions, launching missile and drone attacks against Bahraini civilians. All operational units and forces of the Bahraini Defense Forces are on high alert and fully prepared for defense. The Bahraini Ministry of the Interior issued a statement that day saying that the Iranian attack damaged a residential building in Muharraq province, but caused no deaths. Relevant departments are taking necessary measures on the scene.On June 28, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, conducted research in Sichuan Province from June 25 to 28. He Lifeng pointed out the need to strengthen research on key core technologies, accelerate the construction of a modern industrial system, and continuously enhance the driving force of economic development. He stressed the importance of further tapping the potential of foreign trade, fully leveraging the role of the China-Europe Railway Express and the Western Land-Sea New Corridor, better serving the construction of inland open highlands, and promoting high-quality development of foreign trade. He also emphasized the need to coordinate development and security, continuously monitor and effectively prevent and resolve risks in key areas, and effectively safeguard the local economic and financial ecosystem. He Lifeng demanded that relevant departments thoroughly analyze the common situations and practical problems reflected by local governments and enterprises, conduct in-depth analysis to address specific cases and address broader issues, promptly study and reserve relevant policies and measures, and strive to promote sustained and stable economic growth.June 28 – According to the Korea Times, the South Korean presidential office announced on Sunday that Samsung Electronics and SK Hynix will announce major investment plans at a meeting chaired by President Lee Jae-myung on Monday. The investments will be announced at a briefing held at the Blue House at 2 PM KST (1 PM Beijing time) on Monday, which will introduce the governments "three mega-projects" aimed at achieving balanced regional development. A spokesperson added that the plan is jointly promoted by the trade, technology, transportation, and energy sectors. Samsung Electronics Chairman Lee Jae-yong and SK Group Chairman Chey Tae-won will attend the event and participate in discussions with other attendees. Industry observers predict that the two chipmakers will invest more than 1,000 trillion won (approximately US$650 billion) over the next 10 years, potentially including the development of a chip industry cluster in the southwestern Honam region. Lee Jae-myung called the investment a "historic achievement" and a policy move that could change the fate of South Korea on Saturday.Kuwaits imports in the first quarter amounted to 2.73 billion dinars, while its exports totaled 4.5 billion dinars.

E-mini Dow in Position to Challenge Key Fib Level at 34942

Cory Russell

Apr 06, 2022 12:03


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Shortly after the cash market closed on Monday, June E-mini Dow Jones Industrial Average futures were trading higher. Despite the fact that the blue chip index is up for the day, it is trailing the benchmark S&P 500 Index and the technology-driven NASDAQ Composite.


June E-mini Dow Jones Industrial Average futures are trading at 34826, up 108 points or 0.31 percent, at 20:19 GMT. The SPDR Dow Jones Industrial Average ETF (DIA) closed at $349.18, up $1.17 or 0.34 percent from its previous close.


The S&P 500 Index and the NASDAQ Composite both rose for the day, but the S&P 500 Index and the NASDAQ Composite jumped out in front due to their large exposure to technology firms. Tech stocks, which had been battered in the first quarter due to expectations of interest rate hikes, rallied the most, topped by a 27 percent increase in Twitter shares.


Apple Inc, Intel Corp, and Microsoft Corp, which were up 2.37 percent, 2.27 percent, and 1.79 percent, respectively, led the Dow higher.

Daily Swing Chart Technical Analysis

According to the daily swing chart, the overall trend is up, although momentum is falling. The return of the uptrend will be signaled by a trade through 35281. The major trend will shift to the downside if the price breaks through 34214.


36708 to 32086 is the primary range. At 34397 to 34942, the E-mini Dow is now trading within its retracement zone


This zone is in charge of the average's near-term direction.


35649 to 32086 is the middle range. Another probable support region is the retracement zone, which runs from 34288 to 33868.


The two retracement zones are combined to form a significant support cluster region between 34397 and 34288. Since March 17, this zone has been supporting the market.

Daily Swing Chart Technical Forecast

Trader reaction to 34859 is expected to decide the direction of the June E-mini Dow Jones Industrial Average into Monday's closing.


The presence of buyers will be shown by a prolonged advance over 34859. This may result in a short test of the primary Fibonacci level at 34942.


Surpassing 34942 will signal that the purchasing is becoming more active. This might result in a surge to the major high at 35281.

Scenario that is bearish

The presence of selling will be signaled by a persistent rise below 34859. Look for a retest of the minor bottom at 34437, followed by the support cluster at 34397 to 34288, if this provides enough negative momentum.


Check out our economic calendar for a complete list of today's economic happenings.