Indices | US30 | Price Levels and Pattern Analysis Post FMOC
| Today’s focus: | US30 |
| Pattern | Ascending Triangle, low rejection, Resistance |
| Possible targets | 35,260 – 33,255 |
| Support | 33,790 |
| Resistance | 34,310 |
Today, we analysed the US30 in light of the morning’s FOMC meeting. Although the Federal Reserve decided to maintain interest rates, they made comments indicating the possibility of two more rate hikes later this year.
After testing lower levels and experiencing a rebound, the price seems to be recovering. Now, the question arises: will there be another attempt to break through the resistance level, or will sellers push the price down, thereby breaking the current upward trend? If the trend is indeed broken, it could signal a potential return to test the long-term pattern base.
On the flip side, there is the possibility of buyers initiating a new move to test or break a significant resistance level. Considering that interest rate hikes are back on the agenda, it remains to be seen whether this will reinforce the current key resistance level and keep the price within its existing pattern.
US30 Analysis Video
Good trading,
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