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