US30 Starting to Stall at Resistance?
Hi traders, this is just a general observation, not a trade idea. Tonight we noticed that the US30 has started to fade at a previous level of resistance. With the Core PCE to come, could an expected jump to the upside add to the small seller momentum we are starting to see?
This week we have seen some decent buying so far, but could today’s price action be a small hint at profit-taking starting to come in? If we see new buyer demand appear and the price makes a new high today, then this idea could be cancelled.
If we do see a pullback today and it remains at or above the trendline and moving average, this could set up a possible buy idea next week if buyer momentum continues.
Core PCE will be released at 11:30 pm AEDT tonight. The market is looking for 0.4%
US30 Analysis Video
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