For the bulls, important resistance points exist at 34730 where the downtrend line is derived from the May 10th all-time top, also at 35000 where the all-time top sits, and finally at 36015 where the 161.8% Fibonacci Extesino level resides.
For the bears, important support points exist at 34200 where the MA50 lies now to act as support, also at 33385 where the MA100 stands, and finally at 32900 derived from the inside support bottom of June 21st .
• The week started in slow motion amid a holiday in the US that kept local markets closed.
• Business sentiment in Canada continues to improve with hard-hit firms becoming more confident that sales will pick up as vaccines roll out, suggesting a broadening of the economic recovery ahead, a Bank of Canada survey showed on Monday.
The central bank's Business Outlook Survey Indicator reached its highest level on record in the summer survey, in part due to base-year effects, but also as positive sentiment became more widespread.
Important Daily Events:
• At 13:45 (GMT) US Final Services Purchasing Managers' Index (PMI) expected. This indicator is a survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
• At 14:00 (GMT) The Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) is also due. This indicator is a survey of about 300 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
US Indices Yesterday:
US Market was closed on Independence Day Holiday.
• Dow Jones 0.00%
• S&P 500 0.00%
• Nasdaq 0.00%
Sources: Investing.com, forexfactory.com, breakingthenews.net