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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13751.95 with take profit at 13771.67.
Bearish Preference:
Sell position is envisaged if price trades below 13688.77 with take profit at 13661.70.
Fundamentals:
3:00pm USD CB Consumer Confidence
Comment: U.S. stock index futures rose on Tuesday, buoyed by gains in mega-cap technology-related stocks as inflation worries ebbed and U.S. bond yields eased for the fourth straight day.
Higher yields pressure valuations for tech and other growth stocks, whose future cash flows are discounted at higher rates.
Later in the day, data is likely to show U.S. consumer confidence slipped in May from a 14-month high hit in the prior month.
Analysis: SCRUM Team
