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Instrument: US30
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 31520 with take profit at 31605
Bearish Preference:
A Sell position is envisaged if price trades below price 31257 with take profit at 31104
Fundamentals:
1:30pm USD Unemployment Claims
3:00pm USD ISM Manufacturing PMI
Comment:
U.S. stocks are seen opening lower Thursday, continuing the previous month’s selling as worries about an economic downturn stemming from aggressive Federal Reserve interest rate hikes persist. September is historically a weak month for stocks, and further losses are likely today as investors worry about the Federal Reserve tightening monetary policy to such an extent that the U.S. economy gets pushed into recession.
Analysis: SCRUM Team
