Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 12365.49 with take profit at 12399.95
Bearish Preference:
Sell position is envisaged if price trades below 12280.96 with take profit at 12244.90
Fundamentals:
No major Fundamental
Comment:
U.S. stocks are seen opening marginally lower Monday at the start of a big week for retail earnings as well as the release of keenly studied monthly retail sales data. However, despite these strong gains, the three averages still posted losing weeks, with the S&P 500 close to bear market territory, as investors worried that aggressive monetary policy tightening to combat inflation will slow growth, potentially pushing the U.S. economy into recession.
Analysis: SCRUM Team