Instrument: US30
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 27668 with take profit at 27598
Alternative scenario:
Buy position is envisaged if price trades above 27786 with take profit at 27837
Fundamentals:
No major economic data with direct bearing to this index
Comment: Trump said last night that he personally called off the talks with China over the weekend. The move comes after Trump widened the attack on Huawei suppliers this week and it raises fears that the so-called phase-one deal could be cancelled. If that happens it could very well derail current positive market sentiment. Technically, Dow Jones is trading narrowly but should trade lower if it closes below the support on 1HR.
Analysis: SCRUM Team
