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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13754.80 with take profit at 13767.06.
Bearish Preference:
Sell position is envisaged if price trades below 13690.41 with take profit at 13670.77.
Fundamentals:
No major fundamental
Comment: The Nasdaq 100 is the weakest of the big three U.S. indices, but is trying to go through a resistance level it has been unable to take out the past couple of weeks. To get the record high at 14073 back in focus a breakout above 13814 is needed. A drop below 13458 will have the March 2020 trend-line and September slope in focus as support. The pace of job creation appears to have accelerated over the past three months, underscoring a strong recovery in the labour market. Meanwhile, weekly jobless claims fell to a fresh pandemic low of 385k, versus a 390k forecast.This led to a sharp rebound in the US Dollar which will in turn make its counterparts weaker.
Analysis: SCRUM Team
