Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 13704.69 with take profit at 13731.80
Bearish Preference:
Sell position is envisaged if price trades below 13621.60 with take profit at 13588.36
Fundamentals:
No major fundamental
Comment:
U.S. stock index futures inched lower on Tuesday as investors assessed results from retailers Walmart (NYSE:WMT) and Home Depot , while signs of a slowing global economy continued to keep investors on edge. Walmart Inc rose 3.3% in trading before the bell as the world’s largest retailer forecast a smaller drop in full-year profit than previously projected. Despite a rough start to the year on fears of surging prices and rising rates tipping the U.S. economy into a recession, Wall Street indexes have recovered some of their sharp losses in the recent weeks on signs that inflation has peaked.
Analysis: SCRUM Team
