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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15171.54 with take profit at 15186.93.
Bearish Preference:
Sell position is envisaged if price trades below 15108.20 with take profit at 15090.11.
Fundamentals:
No major fundamental
Comment: The Nasdaq 100 index pulled back from all-time highs last week and entered a technical correction. Prices breached below the 20-Day SMA line, exposing the next support level at 14,400 – the 78.6% Fibonacci extension. Price quickly bounced off due to increase in index feature. The Nasdaq 100 index climbed 0.51% to 14,933.94, lifted by NVIDIA (+3.98%), Microsoft (+2.08%) and ASML (+1.17%). The flareup of the Delta variant around the world may lead to more spending on digital devices and online services, buoying semiconductor and software companies.
Analysis: SCRUM Team
