Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11588.31 with take profit at 11607.81
Bearish Preference:
Sell position is envisaged if price trades below 11542.94 with take profit at 11520.86
Fundamentals:
US Bank Holiday
Comment:
U.S. stock futures were trading lower during Sunday’s evening deals, following a negative finish for major benchmark averages in the previous week as market participants remain nervous on the prospects of an economic downturn, with U.S. markets set to remain closed on Monday for a public holiday. Ahead in the week, investors will be closely monitoring Friday’s nonfarm payrolls report, which is expected to show the smallest addition of jobs since April last year, while the unemployment rate is expected to come in at 3.6%.
Analysis: SCRUM Team