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Daily Market Analysis 21|05|2021: US100

Instrument: US100

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 13563.26 with take profit at 13587.05.
Bearish Preference: 
Sell position is envisaged if price trades below 13486.18 with take profit at 13460.77.
Fundamentals:
2:45 PM  USD    Flash Manufacturing PMI

Comment: U.S. stocks are seen opening marginally higher Friday, continuing the previous session’s rebound ahead of housing data and key business surveys. The Nasdaq Composite is positioned to break a 4-week losing streak. Data showed a new pandemic-low in weekly jobless claims on Thursday, but the rise in continuing claims also played into the idea that the central bank will maintain its ultra-easy monetary policies for some time to come.

Analysis: SCRUM Team

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