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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11826.59 with take profit at 11886.26
Bearish Preference:
Sell position is envisaged if price trades below 11743.59 with take profit at 11693.49
Fundamentals:
2:30pm USD Philly Fed Manufacturing Index
Comment:
The bull case is that the Federal Reserve will slow the pace of interest rate increases as inflation gradually cools off, allowing the economy to dodge a recession. In that scenario, investors can look ahead to an imminent rebound in tech demand. Geopolitical concerns have also weighed on stock, given US restrictions on China’s access to semiconductor technology.
Analysis: SCRUM Team
