Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 12770.33 with take profit at 12800.77
Bearish Preference:
Sell position is envisaged if price trades below 12697.67 with take profit at 12669.19
Fundamentals:
No Major Fundamental
Comment:
U.S. stocks are seen opening higher Monday, on growing confidence that the Federal Reserve can tighten monetary policy sufficiently to deal with soaring inflation without tipping the economy into recession. Friday’s U.S. CPI report for May is expected to come in at a still-elevated 8.3% year over year, but the widely-watched core figure, which excludes the volatile energy and fuel prices, is seen at 5.9% year over year, down from 6.2% in April. This would be a third month of consecutive declines, suggesting inflation may have peaked.
Analysis: SCRUM Team