Fed Chair Powell is speaking right now, and this could be just a false breakout. I don't think the market ready to go higher this week, needs a more robust catalyst.
Next week will be exciting, We all waiting patiently to see US GDP, Jobless claims, PCI, CPI, and Bank stress data.
PS: This analysis fails if it can break out and close above the "POTENTIAL SELL ZONE." Please don't trade this analysis blindly.
Next week will be exciting, We all waiting patiently to see US GDP, Jobless claims, PCI, CPI, and Bank stress data.
PS: This analysis fails if it can break out and close above the "POTENTIAL SELL ZONE." Please don't trade this analysis blindly.
Note
Fed's Powell says economy's path ahead likely to be challenging - Source ReutersNote
The market closed precisely at the pivot. Honestly, the price action looks sketchy. Maybe next week will open with a gap up, perhaps a rejection. Time will tell.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.