Instrument: US2000
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1720.4 with Take Profit at 1724.2
Bearish Preference:
Sell position is envisaged if price trades below price 1701.9 with take profit at 1696.1
Fundamentals:
No Major Fundamental
Comment:
U.S. stock index futures fell on Tuesday, with investors weighing the possibility of an economic recession as central banks across the world take aggressive actions to contain a surge in inflation. Traders are now bracing for another 75 basis point hike at the end of the month. Data on Tuesday showed business growth across the euro zone slowed further last month and forward-looking indicators suggested the region could slip into decline this quarter as the cost of living crisis keeps consumers wary.
Analysis: SCRUM Team