Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 14841.02 with take profit at 14864.59.
Bearish Preference:
Sell position is envisaged if price trades below 14788.19 with take profit at 14762.32.
Fundamentals:
No major fundamental.
Comment: Fears of runaway inflation have been swapped for worries about a rapid slowdown in global economic growth and that made for one very long, holiday-shortened week for U.S. investors but is this new narrative the right one?
After an uneven week of up and down trade, three of the four US major indices including NASDAQ closed on Friday at new record highs. Still, there doesn’t seem to be a clear narrative driving traders, though that could change in the week ahead as earnings season ramps up.
Analysis: SCRUM Team