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Daily Market Analysis 09.03.2022: DE30

Instrument: DE30

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 13369.9 with take profit at 13459.2.
Bearish Preference: 
Sell position is envisaged if price trades below 13115.8 with take profit at 13019.7.
Fundamentals:
No major Fundamental

Comment: 
Plummeting stocks, soaring commodity prices, and tightening global financial conditions following Russia’s invasion of Ukraine are clouding the outlook for markets already unsettled by the prospect of a hawkish Federal Reserve. Dax seems to be at resistance and a break to the upside could signify a further bullish move.

Analysis: SCRUM Team

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