Key Levels and US Market Review for the Asian session open 24/07

US markets had a quiet session Friday to follow on from an uneventful European session. Traders are focused on the US earning session so I expect to see support in the near term. I feel that the markets are generally extended and traders will be in a holding pattern ahead of results from big tech next week. Defensive stocks were favoured on Friday which, for me, points to a potential risk off move as traders lock in some recent gains.

Expecting a stronger open in Asia with the ASX200 to open up 30 pts, the Nikkei to open up 330 pts and Hang Seng to open up 100 pts.

Traders will be keeping an eye on inflationary data (Aus CPI out tomorrow) for signs that inflation is still easing. Whether that translates into lessening pressure on the wallet and the cost of living, will take some time to play out.

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.

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper

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