Analyst
Bearish Preference: Sell position is envisaged if price trades below 30752 with take profit at 30667
Bullish Preference: Buy Limit is envisaged at 30803 with take profit at 30900
Flash Manufacturing PMI (US) 3:45 PM
Comment: The hopes of fiscal stimulus in the US and the accommodative monetary policy from the Federal Reserve are poised to further lend support to the Dow. The FOMC meeting beginning tomorrow and earnings report of notable members of the index set to be released this week will provide further insight on the Dow.
Bearish Preference: Sell position is envisaged if price trades below 1.36675 with take profit at 1.36484.
Bullish Preference: Buy position is envisaged if price trades above 1.37571 with take profit at 1.37891.
No Fundamentals
Comments: The dollar fell lower earlier today, but the expected stimulus package which is being debated by congress at the moment is giving the buck the strength as investors see the stimulus package as a step in the right direction to boost macroeconomic activities in the US. Technically we can see the instrument is on a strong resistance zone and it is unlikely for price to move higher.
Bearish Preference: Sell position is envisaged if price trades below 55.31 with take profit at 54.47.
Bullish Preference: Buy position is envisaged if price trades above 56.08 with take profit at 57.08.
No Fundamentals
Comments: Oil prices have been affected by the renewed COVID-19 lock-down concerns raising fresh issues about global fuel demands. Signs of weaker demands weighed on the market as lock-downs in Hong Kong, China and possibly France, would restrict business activities and fuel consumption.
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