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 have looked at the US30 after this morning’s FOMC. The Fed held rates but commented that we could see two more rises this year.
With price bouncing back after testing lower, could we see a new shot at resistance, or will we see sellers make a new test lower, breaking the current uptrend? If the trend is broken, could this set up a new move back to test the long-term pattern base?
On the other side, could buyers make a new move to test or break key resistance? With rate raises back on the agenda will this maintain the current key resistance and hold price in its overall pattern?
Good trading.
Pattern – Ascending Triangle, low rejection, Resistance
Possible targets – 35,260 - 33,255
Support – 33,790
Resistance – 34,310
Today we have looked at the US30 after this morning’s FOMC. The Fed held rates but commented that we could see two more rises this year.
With price bouncing back after testing lower, could we see a new shot at resistance, or will we see sellers make a new test lower, breaking the current uptrend? If the trend is broken, could this set up a new move back to test the long-term pattern base?
On the other side, could buyers make a new move to test or break key resistance? With rate raises back on the agenda will this maintain the current key resistance and hold price in its overall pattern?
Good trading.
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