Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 12708.73 with take profit at 12726.50
Bearish Preference:
Sell position is envisaged if price trades below 12652.61 with take profit at 12631.10
Fundamentals:
No Major Fundamental
Comment:
Asia-Pacific stocks were up on Wednesday morning, and a pullback in bond yields eased some investors’ concerns about the recession caused by the higher rates. Japan’s Nikkei 225 gained 1.00% by 10:28 PM ET (2:28 AM GMT). Beating market expectations, government data released earlier in the day showed that Japan’s gross domestic product (GDP) shrank 0.5% in January-March year-on-year, smaller than the preliminary reading of 1.0% drop released last month. GDP decreased 0.1% quarter-on-quarter.
Analysis: SCRUM Team