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Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 12321.77 with take profit at 12358.88
Bearish Preference:
A Sell position is envisaged if price trades below price 12219.75 with take profit at 12170.73
Fundamentals:
1:15pm: EUR Main Refinancing Rate
EUR Monetary Policy Statement
1:30pm: USD Unemployment Claims
1:45pm: EUR ECB Press Conference
2:10pm: USD Fed Chair Powell Speaks
Comment:
Computer sales are faltering, short sellers are ramping up bets against semiconductor stocks and the US is tightening export restrictions. For investors in the chip sector, the outlook just keeps getting darker. With the Federal Reserve showing few signs of letting up on interest rate hikes, some on Wall Street are predicting the pain is just getting started as chipmakers are forced to rein in production following years of boom times.
Analysis: SCRUM Team
