Wall Street ended the week strongly in the green, with the Dow Jones Industrial Average closing above 33000 as quarter end rebalancing leads to choppy trading on the last hour of trade last Friday. This morning however, stock indices on the futures market are seen opening on a soft note as oil prices plunge after the massive container ship MV Ever Given, that has been blocking the Suez Canal for almost a week now, started to finally move. The RSI was also overextended into extreme overbought which from a technical perspective suggests a short-term downside move is likely, with 32820, coinciding with the 50-period moving average as nearest downside target.
Support: 32820 / 32700
Resistance: 32970 / 33055
