Instrument: US500+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above price 4150.7 with take profit at 4159.7
Bearish Preference:
A sell position is envisaged if the price trades below price 4137.8 with take profit at 4125.7
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
U.S. stocks are seen opening lower amid concerns about a future economic slowdown, while disappointing earnings from EV giant Tesla. Yet, despite these signs of a slowing economy, Federal Reserve Bank of New York President John Williams said that inflation is still at problematic levels and the U.S. central bank will act to lower it.
Analysis: SCRUM Team