Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 31025 with take profit at 31109
Bearish Preference:
Sell position is envisaged if price trades below price 30853 with take profit at 30799
Fundamentals:
2:30pm USD Fed Chair Powell Speaks
Comment:
Markets dropped after a promising start to the day, as risk assets suffered on Tuesday amidst signs that oil’s high price is stabilizing and that the Fed is not interested in slowing down. US30 dropped 1.6%. The Nasdaq Composite took the biggest hit, dropping 3%, a sign that the concerns of inflation and lagging growth predominated in Tuesday trading.
Analysis: SCRUM Team