Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 14620.33 with take profit at 14638.95.
Bearish Preference:
Sell position is envisaged if price trades below 14517.65 with take profit at 14490.34.
Fundamentals:
No major fundamental.
Comment: US futures contracts on NASDAQ and and stocks in Europe retreated Monday on concerns that the global economic recovery will fizzle out due to a resurgence of coronavirus via the fast-moving and highly contagious Delta variant, along with increased inflation. This anxiety weighed on markets during Friday’s trade and persisted over the weekend. That may be a sign that this view is beginning to gain traction.
Analysis: SCRUM Team