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Instrument: US100
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 13581.48 with take profit at 13607.89.
Bearish Preference:
Sell is envisaged if price trades below 13506.21 with take profit at 13478.48.
Fundamentals:
USD 12:30 PM Challenger Job Cuts y/y
1:30 PM prelim Nonfarm Productivity
Prelim Unit Labor cost
Comment: World shares and commodity prices held firm on Thursday as investors switched to cyclicals amid hopes of a strong economic recovery, but drugmakers’ shares came under pressure after Washington backed waiving patents for COVID-19 vaccines.
Biden’s move hit U.S. vaccine makers, too, including Moderna (NASDAQ:MRNA), but Wall Street was supported overall by gains in energy and other cyclical shares.
Analysis: SCRUM Team
