Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if the price trades above 11573.35 with take profit at 11589.95
Bearish Preference:
Sell position is envisaged if the price trades below 11479.63 with take profit at 11454.74
Fundamentals:
None with high impact
Comment:
U.S. stocks are seen opening lower Monday, handing back some of the month’s strong gains as investors await a crucial policy-setting meeting by the Federal Reserve. Yet, despite these expected losses, the main U.S. equity indices are all on course to post a positive October, snapping a two-month losing streak. The blue-chip Dow Jones Industrial Average is leading the way, currently up over 14% this month, which would be its best month since 1976.
Analysis: SCRUM Team