PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR WEDNESDAY 22/03/23
Share markets continued to press higher as they focus on the coming FOMC interest rate release. Concerns over the banking sector are on the back burner for now and expectations for no rate rise from the US Fed may now be baked into the price action. I expect to see the Fed Reserve raise rates by 25 basis points as they still have to battle higher inflation so the risk is that we see a late selloff into the US markets.
Asian markets will again open stronger with the ASX200 expected up 65 points, HSI up 140 points and the Nikkei up 270 points on open.
I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks like the RBA, ECB and BOE, can not get it under control.
Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.
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