🔹 Market Analysis:

Yesterday, the market reacted negatively to the U.S. and Canada’s sudden 10% tariff hike, bringing the total steel tariff to 20%. This led to broad-based declines across commodities, with sentiment turning bearish.

📉 Technical Outlook (Daily Chart):

  • Increased open interest, declining volume, downward movement with a lower shadow:
    • Higher open interest suggests strong short interest, indicating that fresh funds are actively shorting.
    • Lower volume signals that selling pressure is not overwhelming, and some longs are still holding.
    • The lower shadow implies buying support at 3250, but the rebound lacks strong momentum.

📊 Global Market Trends:

  • U.S. stock markets broke key support levels, confirming a bearish trend.
  • Large-scale capital outflows signal concerns over economic slowdown risks.

🔹 Trading Outlook:

  • Short-term weak consolidation expected, with support at 3250 holding for now.
  • Post-Two Sessions movement critical: Market may decide on a directional breakout, likely accelerating to the downside.

Strategic Focus: Maintain a cautious bearish bias, monitor for potential breakdowns after the policy announcements.

📌 Daily insights provided by LangZo Steel. For reprints, please credit LangZo Steel.