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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

**This newsletter is intended for educational and entertainment purposes only. Pennystocksclub13 intends to educate beginner traders with easily accessible and simplified information to shorten the learning curve. Traders should always do their due diligence and continue educating themselves about the risks involved with trading.

All charts courtesy of Thinkorswim platform. Pennystocksclub13 is not affiliated withThinkorswim.

Disclaimer: Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market, including the loss of your investment. Past performance in the market is not indicative of future results. Any investment is at your own risk!

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