Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 35457 with take profit at 35490.
Bearish Preference:
Sell position is envisaged if price trades below 35332 with take profit at 35294.
Fundamentals: No major Fundamentals
Comment: Most stocks on Wall Street ended last week on a downbeat after August’s mixed non-farm payrolls report, with the Dow Jones and S&P 500 falling 0.21% and 0.03% respectively. It was the tech sector that managed to find some life, with the Nasdaq 100 gaining 0.32% as it closed at a record high. With this in view, wall street have bounced off a verified resistance and headed back to it, currently above 50 period moving average.
Analysis: SCRUM Team