Daily Market Analysis 03/12/2021: US100

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 16073.01 with take profit at 16112.25.
Bearish Preference: 
Sell position is envisaged if price trades below 15901.74 with take profit at 15864.89.
2:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
4:00pm USD ISM Services PMI

Comment: Stock futures were mostly flat in early trading Friday ahead of the November jobs report as the market nears the end of a roller-coaster week driven by Covid omicron variant developments. The November jobs report is set for release Friday morning. Investors expect to see solid job growth last month, with economists surveyed by Dow Jones predicting 573,000 jobs added in November and the unemployment rate slipping to 4.5%.

Analysis: SCRUM Team

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