Markets Slip Amid Election Uncertainty &Fed Rate Cut ExpectationTechnically:
As long as the price trades under 20130 it means will try to touch 19950, and then should break that to continue the trend toward 19860 and 19730,
Bearish Scenario: While trading below 20130, the price may attempt to reach 19950 and 19860. A break below 19740 would pave the way for further declines toward 19520.
Bullish Scenario: Stabilization above 20130 would open the path to 20240. Further strength above this level could create a bullish zone targeting 20420.
Key Levels:
Pivot Point: 20130
Resistance Levels: 20240, 20330, 20420
Support Levels: 19950, 19860, 19740
Trend:
- Bullish above 20130
- Bearish below 20110
Markets Slip Amid Election Uncertainty and Fed Rate Cut Expectations:
U.S. stock indexes slipped in choppy trading on Monday as investors braced for a pivotal week with the U.S. presidential election and a potential Fed rate cut. Uncertainty lingered, with no clear winner expected immediately between Kamala Harris and Donald Trump. "Trump trades" weakened as polls showed Harris leading in Iowa, causing drops in the dollar, bond yields, and Bitcoin. Harris' odds improved on key betting sites, closely watched by market participants.
Usnas100short
USNAS100 (Rally with some Correction)USNAS100 New Forecast
The price maintains bullish pressure due to NVIDIA's strong profits.
Technically, a correction is anticipated down to 18435. Stability below this level would indicate a continuation of the bearish trend towards 18235. Conversely, stability above 18661 would support a bullish trend, with the first target being 18790.
pivot line: 18600
Resistance Price: 18660, 18880, 19100
Support price: 18435, 18250, 17990
Its range for Today will be between Support 18235 and Resistance 18790
On the economic data front, weekly initial jobless claims, S&P global flash PMI readings and durable goods data are due through the week.
Global market participants were also closely watching out for developments around the death of Iranian President Ebrahim Raisi, a hardliner seen as a potential successor to Supreme Leader Ayatollah Ali Khamenei, in a helicopter crash.