Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13045.80 with take profit at 13123.99
Bearish Preference:
Sell position is envisaged if price trades below 12871.20 with take profit at 12798.12
Fundamentals:
3:00pm USD ISM Manufacturing PMI
Comment:
U.S. stocks are seen opening marginally lower Monday, handing back some of the recent gains ahead of the release of more corporate earnings and the key monthly employment report. The new month is set to start on a slightly negative note, as investors consolidate after the best month of the year so far. The Dow Jones Industrial Average gained 6.7% in July, the S&P 500 gained just over 9.1%, while the Nasdaq climbed over 12%, all three averages recording their biggest monthly gains since 2020.
Analysis: SCRUM Team