Dow Jones Index (US30): What to Expect from FOMC?
Dow Jones Index is very weak ahead of FOMC today.
The market is stuck within a horizontal range on a 4h time frame.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 41820 - the resistance of the range,
we can expect a bullish continuation at least to 42000 level.
Bearish Scenario
A bearish breakout and a candle close below 41440
will push the price lower at least to 41200 level.
Wait for FOMC and then follow the market after a breakout.
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