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TECHNICAL VIEW ON INDICES 29 JULY 2022 FRIDAY

TECHNICAL VIEW ON INDICES 29 JULY 2022 FRIDAY

US30 is trading flat in early trading hours. Trading range of US30 for today is 32500-32640. On the upside, major resistance is at 32650 levels while on the downside 32450 will act as major support. Earlier yesterday, U.S.A. GDP data were released in which GDP fell at a 0.9% annual rate in the second quarter. During Thursday’s regular session, the Dow Jones Industrial Average added 332 points or 1% to 32,529.6, the S&P 500 gained 48.8 points or 1.2% to 4,072.4, and the tech-focused NASDAQ Composite lifted 130.2 points or 1.1% to 12,162.6. Risk appetite has worked on this week as the Federal Reserve on Wednesday conveyed a 75 basis point and stayed surprisingly hesitant, while Thursday’s negative GDP print likewise supported wagers of a Fed stop in loan cost rises. Key data for today are release of core PCE price index data in U.S.A.