Instrument: US100
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 12092.48 with take profit at 12115.84
Bearish Preference:
A Sell position is envisaged if the price trades below 12043.50 with take profit at 12024.32
Fundamentals:
No major fundamental
Comment:
The U.S. stock market valuation remains “broadly expensive,” Morgan Stanley’s equity strategists warned the broker’s clients once again. The S&P 500 closed the week nearly 2.7% lower after falling over 1% on Friday. The index initially printed 5-week lows before racing higher to close at roughly 3970.
Analysis: SCRUM Team
