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Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 12506.15 with take profit at 12541.05
Bearish Preference:
A Sell position is envisaged if price trades below price 12386.67 with take profit at 12357.14
Fundamentals:
1:00pm USD FOMC Member Mester Speaks
1:15pm USD ADP Non-Farm Employment Change
Comment:
The second half of August has been bruising for technology stocks, but those hoping for a respite from the declines shouldn’t relax just yet: September is just around the corner. The month historically has been the worst of the year for returns, suggesting another reason for caution as investors also grapple with inflation and rising interest rates from the Federal Reserve.
Analysis: SCRUM Team
