US30 Fails to Rally Ahead of The News – Technical Breakdown | Indices
Today’s focus: US30
Pattern – LH
Support – 34,560
Resistance – 35,030
• Price set a new failed high, pressuring the current rally
• US Employment data at due 8:30 am
Today, we look at the technicals and price action of the US30 after yesterday’s selling set up a failed rally that could become a new lower high.
We don’t have a directional bias at the moment, but we feel there are a few things to mention and watch heading up to today’s NFP data. Could weaker data support buyers, and if we see higher than expected data, could this maintain rates worries and drive the price lower?
Have a great day and good trading.
* The information provided on this page are the opinions of the author and do not necessarily reflect the opinions of Eightcap and are not endorsed by Eightcap.
Any person acting on the information presented on this page does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. Any research provided does not have regard to any specific investment objectives, financial situation and needs of any specific person who may receive it.
Margin trading involves a high level of risk and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Eightcap, and seek independent advice if necessary.