US30USD Bearish Continuation

15 May 2022

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

22 May 2022

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