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Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 25764 with take profit at key level 25446.
Alternative scenario:
Buy if price trades above 26050 with take profit at 26314.
Fundamentals:
No major economic data with a direct bearing to this index
Comment: This index prior to today was ranging at a strong key level, however, it broke past the support level and traded higher to retest the level. It is envisaged that this pair gets rejected and continues trading bearish; furthermore, the mixed sentiment in the market and the spike in new COVID cases is putting more fears into investors decisions, hence, a bearish move is supported on US30
Analysis: SCRUM Team
