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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11831.80 with take profit at 11870.92.
Bearish Preference:
Sell position is envisaged if price trades below 11700.58 with take profit at 11656.56.
Fundamentals:
No major fundamental
Comment:
U.S. stock index futures edged lower on Monday as hawkish comments from a U.S. Federal Reserve official tempered hopes of a less aggressive pace of monetary policy tightening. Federal Reserve Governor Christopher Waller said on Sunday that markets should now pay attention to the “endpoint” of rate increases, not the pace of each move, and the endpoint is likely “a ways off”. The comments from Waller, a voting member of the rate-setting committee this year, follow softer-than-expected inflation data for October that led to a euphoric market rally last week, with the S&P 500 logging its biggest weekly percentage gains in about five months.
Analysis: SCRUM Team
