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Instrument: US2000+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1745.5 with take profit at 1755.5
Bearish Preference:
Sell position is envisaged if price trades below 1731.1 with take profit at 1720.1
Fundamentals:
1:30pm USD Philly Fed Manufacturing Index
Comment:
The main U.S. indexes have in the last two months been hammered by fears of aggressive interest rate hikes by the Federal Reserve, that have pushed Treasury yields to multi-year highs amid no real signs of U.S. inflation slowing. The U.S. central bank is expected to deliver its fourth straight 75 basis-point hike in its November meeting, with some even pricing in a full percentage point raise.
Analysis: SCRUM Team
