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Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 12247.78 with take profit at 12428.79
Bearish Preference:
A Sell position is envisaged if price trades below price 12148.44 with take profit at 12114.25
Fundamentals:
2:45pm USD Final Services PMI
3PM USD ISM Services PMI
Comment:
U.S. stock futures moved higher during Monday’s evening trade as major averages remained closed for a public holiday after posting the third consecutive week of declines. By 19:10 ET (23:10 GMT) Dow Jones Futures and S&P 500 Futures were up 0.1%, while Nasdaq 100 Futures added 0.2%. Ahead in the week, the August Services PMI and ISM’s services prints will be closely monitored as well as speeches from the Federal Reserve’s Mester, Brainard, and Powell. Further interest rate increases from the European Central Bank will also be closely watched by investors. Meantime, European markets closed lower on Monday as investors amid fresh energy concerns following reports that Russia’s state-owned Gazprom (MCX:GAZP) would halt gas supplies to Europe through its Nord Stream 1 pipeline.
Analysis: SCRUM Team
