Instrument: US100+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 13091.39 with take profit at 13145.63
Bearish Preference:
A sell position is envisaged if the price trades below price 13000.97 with take profit at 12948.37
Fundamentals:
No high-impact fundamental.
Comment:
European stock futures mixed; recession fears breed caution. European stock markets are expected to open in a muted manner Thursday, with risk sentiment hit as investors fret about a global economic slowdown. Trading ranges are expected to be tight in Europe ahead of the Good Friday holiday when the U.S. will release the widely-watched monthly nonfarm payrolls data. European equities had a strong start to the year but the sentiment seems to be weakening amid concerns a cooling U.S. economy could lead the rest of the world into recession. Data released Wednesday showed that the U.S. services sector slowed more than expected in March, adding to signs of a cooling labor market after U.S. job openings dropped to their lowest in nearly two years in February.
Analysis: SCRUM Team