After closing last week with a gain of 0.93%, US Index will take a break, as well as the other global exchanges for the Christmas holidays. The absence of market direction has caused the market may pay attention to global issues. The Russia-Ukraine war will enter a new chapter, with Putin opening up the possibility of negotiations after Ukraine received US1.85 billion in war aid, including Patriot missiles. Moreover, the Elliot Winter Storm crippled the electricity supply for households and businesses in the US, even taking the lives of 30 people due to cold temperatures. Besides that, covid cases in China soared by 1 million new cases daily in the Zhejiang region, a large industrial city near Shanghai. The case number is predicted to double soon in the 2023 new year.
The lack of sentiment from regional markets will cause the market participants to pay close attention to the domestic market. At the same time, there will be no more monetary policy for the rest of the year. For a while, JCI maintained at Support 6790, and market participants should also pay attention to Resistance 6825, which is crucial enough to pave the way for further strengthening towards 6960-7000. NHKSI predicts that the first day of trading after Christmas will be slow and tend to be quiet. Therefore, it will remain Sideways. NHKSI advise traders/investors to Wait & See in await for a more solid Resistance breakout.
Download full report HERE.
