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Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 33962 with take profit at 34061.
Bearish Preference:
Sell position is envisaged if price trades below 33765 with take profit at 33654.
Fundamentals:
7:00pm USD FOMC Meeting Minutes
Comment: Wall Street has been volatile in recent days, with investors worried that an overheating economy could prompt the Federal Reserve to rein in its monetary support following a spike in volatility last week after strong inflation readings.
Fund managers recently trimmed their overweight positions on technology stocks to a three-year low as inflation worries left growth stocks vulnerable to a pullback, and turned overweight on UK stocks for the first time in seven years.
Analysis: SCRUM Team
