Daily Market Analysis 30/08/2021: US100

Instrument: US100

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 15465.25 with take profit at 15481.00.
Bearish Preference: 
Sell position is envisaged if price trades below 15430.08 with take profit at 15414.14.
No major fundamental.

Comment: US100 extended higher into record territory as market participants welcomed a dovish-biased message by Fed Chair Jerome Powell in his speech at the Jackson Hole symposium. Powell said that the central bank is likely to start tapering its $120 billion per month bond purchasing program by this year, largely in line with market expectations. He also emphasized that interest rate hikes will not immediately follow after tapering was over.

Analysis: SCRUM Team

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