Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13304.16 with take profit at 13344.98.
Bearish Preference:
Sell position is envisaged if price trades below 13162.11 with take profit at 13118.90.
Fundamentals:
1:30 pm USD CPI m/m
USD Core CPI m/m
Comment: The stocks markets are seen flat since the start of the week and weakening at the open Tuesday, following the previous session’s tech-led selloff on Wall Street on increased inflation worries.
Investors have turned their backs on longer-duration growth stocks as ongoing inflation pressures, with commodity prices surging, increased worries that the Federal Reserve will be forced to tighten its ultra-easy monetary policies earlier than it is currently guiding for.
Analysis: SCRUM Team