Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13598.65 with take profit at 13633.55.
Bearish Preference:
Sell position is envisaged if price trades below 13503.00 with take profit at 13462.93.
Fundamentals:
No Major fundamentals
Comment: There are worries that President Joe Biden’s $2.3 billion capital-gains tax proposal may be on the rise, particularly after his address last week to a joint session of Congress and wealthier individual investors appear to have responded by selling off the stocks that have been the biggest winners since the start of last year. That said, prices seem to be retracing from yesterday’s sell and should continue if US100 breaks the current resistance (21EMA).
Analysis: SCRUM Team