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Daily Market Analysis 13|05|2020: US30

Intraday: Bearish

Technical Analysis

Preference: 
A Sell position is envisaged if price trades below 23569 with take profit at 23375
Alternative scenario: 
Buy position is envisaged if price trades above 23786 with take profit at 23975
Fundamentals:
1:30pm    USD    Core PPI m/m    
                USD    PPI m/m
2:00pm   USD    Fed Chair Powell Speaks

Comment: Stocks fell in the early hours of Wednesday as fears about a second wave of coronavirus infections gripped financial markets. Investors, many facing steep losses due to the pandemic-driven shakeout in assets over the past few months, have also had to contend with renewed U.S.-China trade tensions. 

Analysis: SCRUM Team

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