PROCESS IS KEY….DEFINE LEVELS – MARK EXPECTED PRICE ACTION – TRADE THE SETUPS
OVERNIGHT MARKET SNAPSHOT FOR TUESDAY 28/03/23
European markets bounced back to finish higher and provide a stronger start to the US session. The US was mixed with the DOW higher while Tech was lower as traders now re-focus on inflation and higher interest rates. This can be seen through support into the USD and higher US Bond yields. As the banking crisis takes a backseat in the news, I expect traders will again be dealing with the prospects of further rate rises and may punish risk assets.
Asian markets are expected to open slightly stronger with the ASX200 and Nikkei to open up while the Hang Seng may open flat and find further selling pressure after yesterdays choppy trading day.
I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed with the lingering concerns for the banking sector.
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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