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September 01, 2020 10:27am
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Global downdraft raises caution flag

Bringing two weeks of range-bound price action to an end, Monday’s global downdraft featured both decidedly negative market breadth and the major equity benchmarks violating support levels. While these signal a near-term corrective phase and increase the risk of further losses in the short run, one day doesn’t alter broader trends and from a technical perspective, the longer-term path of least resistance remains higher.
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