A Buy position is envisaged if the price trades above 1900.8 with a take profit at 1912.0
A Sell position is envisaged if the price trades below 1891.8 with take profit at 1885.9
3:45 PM USD Flash Services PMI
U.S. stocks are set for a quiet opening to the week, in the absence of any major market-moving data and with the Lunar New Year also depressing trading volumes out of Asia. A spate of earnings reports in coming weeks is set to test a recent bounce in technology and other mega-cap stocks, a category whose leadership position in U.S. markets has faltered after last year’s deep selloff. The tech-heavy Nasdaq 100 index has gained nearly 6.2% in 2023 and the gain will likely continue.
Analysis: SCRUM Team