Market News week of June 27, 2022
What's going on in the Market?
The market is in rally mode and is looking for a higher move to the $400 level. The market has a tendency to be resilient but presently it has shown weakness. It has not been able to sustain a significant rally.
What are some important events?
The G7 summit is underway and good news from there can increase the chances of a sustained rally. If the other nations' economic data show substantial numbers the market can see continued relief. Powell will present all the details during the week. It will be interesting to see how the market reacts to the news.
What are some key levels to look for?
As previously mentioned, the $400 level will be key as it is near the 50 EMA in the daily chart. On the other side, we need to look for support levels around the $386 and $384 levels where demand was strong on Friday.
The video review is provided in the link below
PSC13 Newsletter
by Jose Navarro on June 26, 2022
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