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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 16625.11 with take profit at 16677.47.
Bearish Preference:
Sell position is envisaged if price trades below 16513.45 with take profit at 16451.94.
Fundamentals:
No Major Fundamental
Comment: As the worst fears of the impact of the new variant have subsided, investors have been returning to risk assets. Driven by more hawkish central banks, the omicron coronavirus variant, forced deleveraging, poor year-end liquidity and general bearish sentiment, investors are “back to paying record premium” for low-volatility stocks, such as safe-haven and mega cap names.
Analysis: SCRUM Team
