Instrument: UK100
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 7660.7 with take profit at 7673.2
Bearish Preference:
A sell position is envisaged if the price trades below 7606.2 with take profit at 7594.4.
Fundamentals:
No high-impact news bearing to this instrument.
Comment:
European shares rose on Wednesday, ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve, while Entain shares fell sharply after announcing a deal. Traders have all but fully baked in the Fed holding rates at the 5.00%-5.25% range later in the day, while giving it a 63% chance of a rate hike in July.
Analysis: SCRUM Team