So we had a better than expected PPI. Which is good news for inflation data, for now. 

There has been tons of news out there talking about 75 bp rate hike tomorrow instead of 50 bp hike.

This news has been the ''reason'' for the sell off. In actual fact, the graph is forming bullish divergences and on the monthly and weekly chart approaching oversold levels.

Powell has been talking for a month about 2x 50bp hike for the next 2 meeting. Even the most hawkish FED Bullard has mentioned 50 bp hike will be sufficient for now. 

I do not see the possibility of 75 hike tomorrow and I am still leaning bullish for now.

Fishing for a bottom at the support levels if they hold!

Do you know your supports and resistances? Watch the video to find out!

As always, trade safe & invest wise!

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Video Link:

https://youtu.be/USQM3Gw-g2s

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