Instrument: US100
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 12873.32 with take profit at 12889.30.
Bearish Preference:
A sell position is envisaged if the price trades below 12812.74 with take profit at 12801.42.
Fundamentals:
None with High Impact
Comment:
The technical analysts see a pullback ahead for Nasdaq with a 2-week correction- a typical outcome after the Sell signal was generated yesterday. However, they also warn that sometimes these signals “yield more lasting reversals.” They also expect the rotation from tech and communications to cyclical sectors to continue in the near term.
Analysis: SCRUM Team
