Chart of the day - US100 (10.08.2022)

During today's session, investors will focus on US inflation data, which will be released at 1:30 pm BST. Economists assume that CPI inflation will moderate slightly. However, if the price pressure continues to accelerate, then the Fed would have another argument to raise interest rates, which could put stock indices under pressure.

The technical situation on the US indices does not look good. The US100 rebounded off a key resistance at 13,400 pts, which is marked by the upper limit of the 1:1 structure and the downward trendline. Drop below 1298 pts would mean that the upward correction which started mid-June has come to an end and the index could resume the main downward trend.

Source: xStation5