Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 32507 with take profit at 32571
Bearish Preference:
Sell position is envisaged if price trades below 32317 with take profit at 32207
Fundamentals:
3:00pm USD ISM Services PMI
Comment:
U.S. stocks are seen opening lower Tuesday, with geopolitical tensions adding to the subdued start to the new month ahead of the release of more quarterly corporate earnings. The main Wall Street indices closed with small losses Monday, handing back some of July’s gains, when the averages recorded their best month since late 2020. Weighing on risk appetite Tuesday was the expectation that U.S. House Speaker Nancy Pelosi will visit Taiwan, an island that China claims as part of its territory, later in the session. Such a move would raise tensions between the globe’s two economic superpowers, with Beijing promising “grave consequences” for the visit by the highest-ranking U.S. official in recent memory.
Analysis: SCRUM Team