US30 (Futures Climb on Expectations of Rate Cuts)

U.S. stock index futures rose on Monday, signaling potential further gains on Wall Street amid increased anticipation of a Federal Reserve interest rate cut later this year.

After a tumultuous April, U.S. stock indexes seem to have found stable ground, buoyed by an unexpectedly strong first-quarter earnings season and optimism over potential easing in U.S. monetary policy, which has attracted investors back to the market.

In its most recent meeting, the Federal Reserve maintained interest rates but indicated a possible inclination toward reducing borrowing costs in the future. However, the Fed emphasized its desire for "greater confidence" in the continued decline of inflation before implementing any rate cuts.

Technically:

The price is anticipated to consolidate within the range of 38,930 and 38,670 before making a decisive move. If the price surpasses the resistance level at 38,820, it could ascend towards 38,930 and potentially continue its upward trajectory. Conversely, a break below 38,640 would indicate a bearish trend for the week.


Pivot line: 38565
Resistance Prices: 38820, 39050, 39280
Support Prices: 38320, 38065, 37740

The movement range will be between support 38065 and Resistance 38990