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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 12478.72 with take profit at 12586.84
Bearish Preference:
Sell position is envisaged if price trades below 12229.34 with take profit at 12133.42
Fundamentals:
FOMC Member Waller Speaks by 6 PM
FOMC Member Mester Speaks by 8 PM
Comment:
European stocks and U.S. futures rebounded on Tuesday, following another selloff across both sides of the Atlantic on Monday. The S&P 500 has fallen for four straight weeks, while in Europe, the Stoxx 600 benchmark has tested the lows reached after the war in Ukraine erupted. Futures on the tech-heavy Nasdaq 100 — which slumped to the lowest since November 2020 on Monday — advanced as much as 1.8% today as bargain hunters returned. Amid concerns about how aggressively central banks will move, markets may also have taken some relief from Raphael Bostic, Federal Reserve Bank of Atlanta president, who said late Monday that he doesn’t support rate hikes bigger than 50 basis points.
Analysis: SCRUM Team
