Instrument: US30
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 34268 with a take profit at price 34302.
Bearish Preference:
A Sell position is envisaged if price trades below price 34106 with take profit at price 34048.
Fundamentals:
None with high impact.
Comment: The stock market is indicated to open just slightly down. The major averages enjoyed a strong rally Friday, but it wasn’t enough to push them into positive territory for the week. we will expect a more Bearish run on US30 because Tesla was among the big losers, off more than 12%. But it did manage to recovery its 200-day moving average. It hadn’t fallen below that technical level since the depth of the pandemic selling in March 2020.
Analysis: SCRUM Team