Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 12258.88 with take profit at 12328.03
Bearish Preference:
A Sell position is envisaged if the price trades below 12169.08 with take profit at 12128.67
Fundamentals:
1:30pm USD Core PPI m/m
USD Core Retail Sales m/m
USD Empire State Manufacturing Index
USD PPI m/m
USD Retail Sales m/m
Comment:
U.S. stocks bounced back on Tuesday as largely on-target inflation data and easing jitters over contagion in the banking sector cooled expectations regarding the size of the rate hike at the Federal Reserve’s policy meeting next week. The market is having an opportunity to digest some of the news over the last couple of days,” said Matthew Keator, managing partner in the Keator Group, a wealth management firm in Lenox, Massachusetts. “(Investors) are seeing a coordinated effort with various government agencies, and with hindsight, they’re feeling as if things have contained themselves a bit.
Analysis: SCRUM Team
