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Daily Market Analysis 28.12.2022: US100

Instrument: US100

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if price trades above 1807.84 with take profit at 1810.80
Bearish Preference: 
A Sell position is envisaged if price trades below price 1798.42 with take profit at 1795.55

Fundamentals:
No major fundamental

Comment: 
Global equities traded sideways on Wednesday after China took further steps towards reopening its COVID-battered economy, with hopes for an economic rebound tempered by near-term worries over rising cases. MSCI’s broadest index of global stocks was flat as investors stayed on the sidelines at the end of a brutal year for equities. The global gauge is on course to end 2022 19.5% down, in its worse performance since the financial crisis of 2008, having buckled under the pressure of red-hot inflation in Western economies, major central banks hiking intrest rates, and China’s stringent zero-COVID policies.

Analysis: SCRUM Team

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