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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11903.16 with take profit at 11955.71
Bearish Preference:
Sell position is envisaged if price trades below 11736.23 with take profit at 11683.68
Fundamentals:
USD 1:30pm Core Durable Goods Orders m/m
Durable Goods Orders m/m
7:00pm FOMC Meeting Minutes
Comment:
Asia-Pacific stocks were mostly up on Wednesday morning. However, investors continue to assess the impact of a large selloff in technology shares and growing worries of a U.S. recession caused by tightening monetary policies. China’s Shanghai Composite was up 0.53% while the Shenzhen Component fell 0.51%. Despite Beijing’s ongoing promises of stimulus, the country’s zero-COVID policy and lockdowns have done considerable economic damage.
Analysis: SCRUM Team
