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
