We continue with our overall bearish bias of U.S. indices due to the aggressive hawkish tone of the Federal Reserve, hiking interest rates to combat the fast pacing inflation.
Bearish Scenario A: Retracement to 32600 key level, creating an upper weekly wick, grabbing orders, before a bearish continuation to the downside.
Bearish Scenario B: A breakout below 31900 - 31800 key levels for bearish continuation to revisit current monthly and yearly lows.
Target: 31250 Key Level
Bearish Scenario A: Retracement to 32600 key level, creating an upper weekly wick, grabbing orders, before a bearish continuation to the downside.
Bearish Scenario B: A breakout below 31900 - 31800 key levels for bearish continuation to revisit current monthly and yearly lows.
Target: 31250 Key Level
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