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
