Today's focus: US30
Pattern – N/A
Support – 36,280
Resistance – 36,900
Hi, and thanks for checking out today's update. Today, we are looking at US30 on the daily chart.
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.
A key driver could be tomorrow's FOMC; traders will be looking to see if rates remain on hold as expected and what we will hear from the FED in the statement and projections. Ideas are that we could see an end to aggressive rate policy, and what could be coming next?
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.
Pattern – N/A
Support – 36,280
Resistance – 36,900
Hi, and thanks for checking out today's update. Today, we are looking at US30 on the daily chart.
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.
A key driver could be tomorrow's FOMC; traders will be looking to see if rates remain on hold as expected and what we will hear from the FED in the statement and projections. Ideas are that we could see an end to aggressive rate policy, and what could be coming next?
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.