Can Dow Jones Rise Above Falling Trend Line?
It's FOMC day! The markets have already priced in the 25bps rate hike so Powell's speech will be the most important thing today. A dovish Fed can help Dow Jones break the falling trend line and finally see acceptance above the resistance level of 34000. While I'm expecting a dovish speech from Powell today, the inflation fears are slowly fading away and recession fears are taking over, so in this environment, it's best to trade with minimized risk on stocks.
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