Daily Market Analysis 23/11/2021:

Instrument: US100

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 16416.93 with take profit at 16452.09
Bearish Preference: 
Sell position is envisaged if price trades below 16322.30 with take profit at 16288.05
3:45pm USD Flash Manufacturing PMI
USD Flash Services PMI

Comment: The US Indices market traded mixed towards the closing bell on Monday with the S& P 500, Dow Jones Industrial Average each climbing higher, at some point Nasdaq reached a record high but the composite was down after the White House announced earlier in the day that Federal Reserve Chairman Jerome Powell was nominated to serve a second term. President Joe Biden is expected to give details on the plan when he speaks about the economy today, the benchmark 2-year Treasury bond yield continues to trade around 0.63%, its highest since April 2020.

Analysis: SCRUM Team

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