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On March 31, it was reported that the Jiangsu Provincial Government held an executive meeting on March 30. The meeting reviewed several measures to accelerate the transformation and upgrading of the provinces construction industry, the guiding opinions on stabilizing the real estate market, the opinions on further improving the investment and financing mechanism to accelerate the construction of expressways and trunk waterways, and the work plan for the special action to address traffic congestion in Jiangsu Province. The meeting also heard a report on the provinces comprehensive governance of the "one-stop" service for new energy vehicle charging infrastructure. The meeting emphasized the need to orderly promote cross-sectoral integration and business expansion of construction enterprises, apply intelligent and green technologies, implement precise policies to stimulate housing consumption, optimize supply, and stabilize expectations, build a diversified and sustainable funding guarantee system for expressways and trunk waterways, focus on optimizing road network structure and traffic service management, and comprehensively improve the safety level of planning, construction, operation, and supervision of new energy vehicle charging infrastructure.March 31 – A symposium on grain trading within the grain and reserve system was held in Nanjing, Jiangsu Province, from March 26 to the morning of March 27. The meeting emphasized the need for a scientific assessment of the new situation and accurate understanding of new changes. It stressed the importance of focusing on the present while considering the future, centering on three core directions: serving macro-control, serving industrial development, and serving market entities. The meeting called for comprehensive and all-round improvement in quality and efficiency, continuously elevating the quality, level, and scope of grain trading work, and providing solid support for consolidating the foundation of food security and achieving a good start to the "15th Five-Year Plan" for grain and reserve work.Dubai Media Office: The emergency response team has successfully extinguished the fire on the Kuwaiti oil tanker.The Hang Seng Tech Index rose more than 1%, while the Hang Seng Index rose more than 0.8%.Biren Technology (06082.HK), a Hong Kong-listed company, rose more than 6%, with its revenue projected to grow by 207.2% year-on-year in 2025.

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.

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