Morning Insights 28th July

Simon Alagbe

Analyst


Instrument: US 30 (Dow Jones Industrial Average)

The index retreated in the session yesterday as the regulatory clampdown by a Chinese authority on tech and education companies dominated sentiment. Investors will wait for clues from the policymakers about scaling back the massive bond-buying program of the Federal Reserve later today.


Technicals: 

The Index has been restricted to narrow trading between 35013 resistance level and 34786 support level ahead of the all-important policy meeting later today. Traders are encouraged to wait for a break-out on the index. 


Fundamentals 

FOMC Statement (US)  7:00 PM

Federal Funds Rate  (US)  7:00 PM

FOMC Press Conference (US) 7:30 PM

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