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TECHNICAL VIEW ON INDICES 01 AUGUST MONDAY

TECHNICAL VIEW ON INDICES 01 AUGUST MONDAY

US30 is trading in the range of 32700-32850 for the day. Key resistance levels on the upside, to look for are 32900 and 33000 while on the downside, key support areas are around 32600 and 32500. Before the JOLTS job opening data in U.S.A., data compiled by Crunchbase said, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July. The layoff includes ride-sharing platform Uber, Netflix and several cryptocurrency exchanges and lending platforms. While China’s key manufacturing sector shrank in July, largely due to disruptions in the property market. New home prices and sales also dropped through the month. Key data to look for today are U.S.A. ISM Manufacturing PMI and RBA rate statement from Reserve Bank of Australia.

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