TradeVinder

TECHNICAL VIEW ON INDICES 03 AUGUST 2022 WEDNESDAY

TECHNICAL VIEW ON INDICES 03 AUGUST 2022 WEDNESDAY

Trading range of US30 for today is 32400-32550. It is forming rounding top on the hourly chart which can cause short term profit booking but traders need to worry less as long as, it is trading above 32400. Key support range for today is 32380-32400 then 32200 while on the higher side key resistance is around 32650. As geopolitical tensions between the United States and China increased as a result of House Speaker Nancy Pelosi’s visit to Taiwan, and as additional hawkish remarks from regional Fed presidents reduced risk sentiment, U.S. stock futures traded higher during Tuesday’s evening trades. Ahead in Wednesday’s session, market participants will be paying close attention to the ISM non-manufacturing PMI and the S&P Global PMI prints as well as monthly factory orders data, while second quarter earnings results are expected from Moderna Inc (NASDAQ:MRNA), CVS Health Corp (NYSE:CVS), Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Under Armour Inc (NYSE:UAA). Investors are also eyeing on the decision of OPEC+ on oil production which is due today.

Leave a Reply

Your email address will not be published.