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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 10985.17 with take profit at 11018.26
Bearish Preference:
Sell position is envisaged if price trades below 10911.65 with take profit at 10876.72
Fundamentals:
No high-impact fundamental
Comment:
The Fed’s actions are cooling off certain corners of the economy, especially housing. Existing home sales were the slowest since 2012 not counting the start of the pandemic, falling 1.5% in September to an adjusted rate of 4.7 million annually. Buyers are sitting on the sidelines amid mortgage interest rates around 7%, which are twice what they were just months ago.
Analysis: SCRUM Team
