Instrument: DE30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades 15690.0 above with take profit at 15709.9.
Bearish Preference:
Sell position is envisaged if price trades below 15580.3 with take profit at 15560.0.
Fundamentals:
No major fundamental
Comment: Global equity markets turned higher last week, boosted by studies suggesting the Omicron variant of the Covid-19 virus caused less serious damage in patients than previous versions and current vaccines, including boosters, could cope with the variant. Meanwhile, geopolitical tensions are on the rise after the Group of Seven warned Russia on Sunday that it would face “massive consequences” if it invades Ukraine. U.S. intelligence has warned that Russia could be planning an offensive on Ukraine as early as next year, involving up to 175,000 troops. The Russian RTS index fell 1.2% to test its lowest in over four months.
Analysis: SCRUM Team