Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 10989.37 with take profit at 11020.81
Bearish Preference:
Sell position is envisaged if price trades below 10900.60 with take profit at 10871.01
Fundamentals:
1:30pm USD PPI m/m
7:00pm USD FOMC Meeting Minutes
Comment:
U.S. stocks are seen opening broadly lower on Wednesday, a day after the Nasdaq recorded its lowest close since July 2020, pressured lower by persistent worries over the impact of rising interest rates. Investors remained cautious ahead of what will be closely watched inflation data later in the week as well as the start of third quarter earnings season on Friday, when the largest U.S. lenders are due to report.
Analysis: SCRUM Team