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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11857.95 with take profit at 11893.33
Bearish Preference:
Sell position is envisaged if price trades below 11794.71 with take profit at 11753.98
Fundamentals:
No high impact fundamental
Comment:
U.S. stock index futures were subdued on Tuesday following a selloff on Wall Street on fears of protracted Federal Reserve action to combat inflation, while focus shifted to Georgia runoff election, which might decide the fate of the U.S. Senate. All three major indexes closed at their lowest levels in nearly a week on Monday after upbeat services sector data offered more evidence of strength in the U.S. economy despite a series of big interest rate hikes. Money market bets are pointing to a 91% chance that the U.S. central bank might raise rates by 50 basis points at its Dec. 13-14 policy meeting, with rates expected to peak at 5% in May 2023, up from 4.92% in the previous session. (FEDWATCH).
Analysis: SCRUM Team
