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Daily Market Analysis 28.02.2022: US100

Instrument: US100

Technical Analysis

Bullish Preference:  
A Buy position is envisaged if price trades above 14030.21 with take profit at 14083.08.
Bearish Preference: 
A Sell position is envisaged if price trades below 13898.03 with take profit at 13853.97.
Fundamentals:
No major Fundamental. 

Comment: 
We closed out this past week on a remarkably – almost unbelievably – bullish footing. Through extraordinary volatility and a ‘near hit’ for the Nasdaq 100 nearly closing in ‘bear’ territory, the final 48 hours of trade produced a strong risk reversal with the biggest daily Dow rally since November 2020. Thus far, we have discussed mainly the volatility threat that comes with the unpredictable Ukrainian situation; but such a reactive backdrop can also create serious threats through more prosaic event risks. There is a lot of scheduled event risk ahead, and the character of the updates can be distorted by the environment.

Analysis: SCRUM Team

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