US30 4H (OUTLOOK)
Updated
US30
OUTLOOK
The benchmark US stock indices ended this week's trading on a noticeable increase; Amid a busy week of US economic data, which reinforced market expectations that the US Federal Reserve has won its battle to curb high inflation; Thus, there is no justification for continuing the interest rate hike cycle at its meeting this month, with traders anticipating a less stringent tone from the US Federal Reserve policy makers in the coming period, and its positive repercussions on the US stock market in the end.
Technical analysis of Dow Jones prices
As we mentioned form the previous idea as long as price trade under 35050 the price will be under sell pressure and will try to start a correction to suggested target 34624 and 34242
for reminder you breaching 35050 it will finish the bearish tendency and it will build a positive momentum again to reach 35320 and 35647
The expect range trading for today it will be between support line 34624 and resistance line 35050
support line: 34624 , 34242
resistance line : 35050 ,35320
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OUTLOOK
The benchmark US stock indices ended this week's trading on a noticeable increase; Amid a busy week of US economic data, which reinforced market expectations that the US Federal Reserve has won its battle to curb high inflation; Thus, there is no justification for continuing the interest rate hike cycle at its meeting this month, with traders anticipating a less stringent tone from the US Federal Reserve policy makers in the coming period, and its positive repercussions on the US stock market in the end.
Technical analysis of Dow Jones prices
As we mentioned form the previous idea as long as price trade under 35050 the price will be under sell pressure and will try to start a correction to suggested target 34624 and 34242
for reminder you breaching 35050 it will finish the bearish tendency and it will build a positive momentum again to reach 35320 and 35647
The expect range trading for today it will be between support line 34624 and resistance line 35050
support line: 34624 , 34242
resistance line : 35050 ,35320
Thank you for considering my analysis and perspective and If this post was useful to you , don't forget to subscribe and like ❤️
Note
US30UPDATE
As we mentioned the price will be under sell pressure and already price reached to 34690
Now , its possible to retest to the 34885 and then drop again
for reminder , consolidation above 35050 it will finish the bearish tendency for a while .
other wise , to confirm the bearish trend should stable under 34624 and then will try to reach 34446 and 34242
Additionally , today New York season will affect on the US stock index futures
support line :34624 ,34446
resistance line :34885 , 35050
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