Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15511.45 with take profit at 15563.47.
Bearish Preference:
Sell position is envisaged if price trades below 15301.05 with take profit at 15264.29.
Fundamentals:
2:30pm USD Empire State Manufacturing Index
Comment: Global stock markets stumbled again on Tuesday and U.S. Treasury yields climbed as cautious investors worried about how imminent U.S. interest rate hikes would affect the economy. A warning from the largest U.S. bank JPMorgan Chase & Co (NYSE:JPM) that its profitability may fall below a medium-term target cast another pall on Wall Street. We are now entering a period where the Federal Reserve will engage in a never-before-seen experiment: raising interest rates off zero and reducing the size of its balance sheet in the same year,” said Nicholas Colas, co-founder of DataTrek Research.
Analysis: SCRUM Team
