Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15119.55 with take profit at 15132.29.
Bearish Preference:
Sell position is envisaged if price trades below 15091.59 with take profit at 15076.80.
Fundamentals:
USD 1:30PM Unemployment Claims
Trade Balance
Comment: Broadly, the continued evolution of COVID-19, the Delta variant over the recent weeks and months kind of re-rating of the growth outlook” has the market coming to terms with what it means for the reflation trade, and what it means to the bond market, Mayfield said. After six straight months of gains, the benchmark S&P 500 has struggled to rise in August over concerns about the pace of growth as the economy rebounded from the depths of the COVID-19-driven recession, and fears of higher inflation overshadowed a stellar corporate earnings season.
Analysis: SCRUM Team