Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 36026 with take profit at 36054
Bearish Preference:
Sell position is envisaged if price trades below 35950 with take profit at 35931
Fundamentals:
No major fundamental
Comment: Dow Jones wrapped up this past week with a loss, falling about 0.6%, 0.3% and 1% respectively.The slight increase in volatility this past week could have been traced to the latest US inflation report. In October, consumer prices climbed a whopping 6.2% y/y, leaving inflation running at its hottest pace since the early 1990s. This trend also transpired into deteriorating consumer confidence. On Friday, University of Michigan (UofM) sentiment data fell to a new post-pandemic low of 66.8. This was last seen 10 years ago.
Analysis: SCRUM Team