US30 | Navigating Highs and FOMC Anticipation | Indices
Today’s video asks if US30 will continue to track higher despite being well off its moving average. This can be a warning if you believe in mean revision. The other point we are looking at in today’s report is whether we will see a stall at resistance and previous highs if the price continues to increase.
Today’s focus: US30
Pattern – N/A
Support – 36,280
Resistance – 36,900
If it’s dovish, we will look for stocks to rally; if it’s hawkish, we will look for stocks to decline. Expectations are already in for May rate cuts to be priced in. Will we hear anything from the Fed to substantiate this?
The FOMC will be held at 6:00 am AEDT, and the FOMC press conference will be held at 6:30 am Thursday.
Good trading.
Dow Jones | US30 | Indices | Indices Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns
* 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.