DOW opens strongly higher today, riding on news regarding US-China trade negotiations. At the time of writing, it’s up over 1.3% and is back above 25000 handle. Rise from 23531.31 and that from 23344.52 is resuming. Solid support from 55 H EMA shows the underlying near term bullishness. However, there is no clear indication of larger up trend resumption yet. Thus, we’re treating the current rise as a leg inside the range pattern from 26616.71. The real hurdle to overcome is between 25800.35 resistance and 78.6% retracement of 26616.71 to 23360.29 at 25919.83. We’ll look for topping signal around there.
