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On October 25th, local time, Sudans Rapid Support Forces (RSF) announced their control of Bara, a major city in North Kordofan State, central Sudan. The statement stated that the RSF launched a full-scale offensive against the Sudanese Armed Forces (SAF)-held city, inflicting thousands of casualties and injuring hundreds, ultimately securing full control of the city. The statement also stated that retaking Bara is a significant step toward full control of the Kordofan region. The SAF has yet to respond to the statement.Pakistans Defense Minister: We see Afghanistans desire for peace, but failure to reach an agreement will mean open war.On October 25th, local time, the second round of ceasefire talks between Pakistan and Afghanistan began in Istanbul, Turkey. The talks were hosted by Turkey and held at an Istanbul hotel. The Pakistani delegation included the militarys director of operations and security and intelligence officials. The Afghan delegation was led by Deputy Interior Minister Rahmatullah Najeeb.On October 25th, Belgorod Oblast Governor Ilya Gladkov announced that Ukrainian armed forces had damaged the Belgorod Reservoir Dam. He stated that Ukrainian forces might attempt to attack and destroy the dam again. If this were to happen, several streets in riverbanks and settlements near Kharkiv Oblast would be flooded, impacting the lives of approximately 1,000 residents. Gladkov stated that local authorities have advised residents at risk of flooding to move to temporary relocation sites. The Ukrainian side has not yet responded to this request.On October 25th, Bank of France Governor François Villeroy de Villeroy warned lawmakers debating the 2026 budget that the deficit must not exceed 4.8% of economic output to ensure France can cope with its growing debt burden. The French National Assembly is currently debating a draft budget that targets 4.7% GDP growth, but Prime Minister Jean-Claude Le Cornu has said the ultimate target should be within 5%, and he is seeking a compromise with opposition lawmakers. "It is absolutely necessary to keep the deficit below 3% between now and 2029, which would imply a maximum deficit of 4.8% next year," Villeroy de Villeroy said in an interview with La Croix. He also stated that France faces the risk of "progressive suffocation" from debt and that additional deficit spending will fail to stimulate economic growth. According to calculations by the Bank of France, if debt uncertainty is reduced, a 1% reduction in the household savings rate would boost economic growth by 0.4%. However, Villeroy de Villeroy stated that the French economy has strong momentum this year and growth will be "at least" as strong as the Banks forecast of 0.7%.

E-mini NASDAQ-100 Set Up for Breakout Over 15268.75

Skylar Shaw

Apr 06, 2022 11:57


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Even though the global attitude remains cautious amid rumors of further sanctions against Russia over its invasion of Ukraine, June E-mini NASDAQ-100 Index futures are jumping soon before the close on Monday, supported by megacap stocks and a 20% spike in Twitter shares.


According to Reuters, after Tesla Inc Chief Executive Officer Elon Musk disclosed a 9.2 percent interest in the firm, Twitter Inc gained 24.1 percent to become the top performing stock on the NASDAQ-100 and the benchmark S&P 500.


June E-mini NASDAQ-100 Index futures are trading at 15133.50, up 269.75 or 1.81 percent, at 19:08 GMT. The Invesco QQQ Trust Series 1 ETF (QQQ) is currently trading at $368.54, up $6.69 or 1.85%.


Apple, Amazon, Nvidia, and Microsoft were among the technology companies that gained more than 1%. Tesla's stock also performed well, rising 3% after the electric vehicle manufacturer reported record deliveries for the first quarter.

Daily Swing Chart Technical Analysis

According to the daily swing chart, the major trend is up. The return of the uptrend will be signaled by a trade through 15268.75. The major trend will turn to down if the price breaks over 12942.50.


Although this is extremely improbable, there is enough opportunity for a regular 50% to 61.8 percent correction of the current 10-day surge.


The minor trend is upwards as well. The minor trend will be changed to down if a deal is made through 14725.00. This will cause the momentum to shift to the negative.


16700.00 to 12942.50 is the major range. At 14821.25 to 15264.75, the index is now trading within its retracement zone. This zone is in charge of the index's short-term direction.


15268.75 to 14725.00 is the minor range. At 14996.75, the index is trading on the strong side of its pivot, indicating support.


12942.50 to 15268.75 is the short-term range. If the minor trend shifts to the downside, the correction may continue into the retracement zone between 14105.50 and 13831.00.

Daily Swing Chart Technical Forecast

Trader reaction to 14997.00 will influence the direction of the June E-mini NASDAQ-100 Index entering Monday's closing.

Possibilities for Growth

The presence of buyers will be shown by a prolonged advance over 14997.00. Look for a burst into the resistance cluster around 15264.75 – 15268.75 if this generates enough upward momentum. When this area is overtaken, it indicates that the purchasing is becoming more powerful. This might lead to a surge to the upside, with the primary objective of 16007.50.

Scenario that is bearish

The presence of selling will be signaled by a persistent move below 14997.00. The initial objective is 14821.25, with the minor bottom at 14725.00 following immediately behind.


Taking out 14725.00 will change momentum to the downside, perhaps triggering an acceleration into the 14105.50 to 13831.00 short-term retracement zone.


Check out our economic calendar for a complete list of today's economic happenings.

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