The lead up to US trading yesterday was rather poor, as US futures slumped hard before the opening bell. But dip buyers quickly stepped in to pare losses right off the bat, only to fall short of the same key near-term level on Wednesday.
That continues to be where sellers are drawing the line in keeping any optimism at bay on the week. The S&P 500 closed down by 0.2% but it felt like it should have been much worse before Wall Street entered the fray.
The chart above will again be a key one to watch before the weekend now. Dip buyers will have one more shot at breaking the 100-hour moving average (red line). Otherwise, the thought of weekend risk and time closing in on 2 April tariffs might start to bite at risk appetite.
For now, the market mood is calmer ahead of the European open with S&P 500 futures seen flat. But it belies the tentative caution and jitters that are still permeating across the room.
This article was written by Justin Low at www.forexlive.com.Hence then, the article about dip buyers will have but one more shot before the weekend was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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