Key Levels and US Market Review for the Asian session open 24/03
European markets fought back up off lows after and earlier selloff while the US managed to end with minor gains led by Tech shares. Again, banking concerns weighed on the markets which capped bullishness for the session as the USD continued to move lower leading to a rally in Gold and Copper. For me, major US and European Indexes are looking very heavy and teetering on a selloff. Whether the selloff sees new major lows or a retest of previous lows, is still yet to be seen.
Asian markets will open weaker with the ASX200 expected down 40 points, HSI to open down 180 and the Nikkei down 40/50 points on open.
I remain of the view that sticky inflation is the big issue but it is now a balancing act for the Fed with the concerns for the Regional US Banks leading many to expect an interest rate pause.
A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below.
Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper
Asian markets will open weaker with the ASX200 expected down 40 points, HSI to open down 180 and the Nikkei down 40/50 points on open.
I remain of the view that sticky inflation is the big issue but it is now a balancing act for the Fed with the concerns for the Regional US Banks leading many to expect an interest rate pause.
A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below.
Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper
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Penafian
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