PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR MONDAY 27/03/23
European markets were sold lower again on the back of banking fears and look ready to be pressured again at the start of the new week. The US opened weaker to follow on from Europe but found an intraday low and rallied into the close to brush aside the earlier weakness. The USD is back moving higher after breaking the recent downtrend leaving Gold to find some selling pressure and move lower. Copper is finding buyers while Oil fended off more selling pressure and is looking for a move higher.
Asian markets are expected to open flat after a relatively uneventful overnight session.
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 in the coming FOMC meeting.
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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