US30 4H / Continuation to 40030 and then...Equities Rise as Fed Minutes Indicate September Rate Cut Likely
Current Technical Outlook:
The trend suggests a potential upward movement as long as the price stays above 40,860. The market is expected to consolidate between 41,030 and 40,850 until a breakout occurs.
Bullish Scenario:
Stability above 40,850, could drive an increase toward 41,030, with further gains potentially leading to 41,345.
Bearish Scenario:
Should the price reverse and stabilize below the pivot line at 40,800, a bearish trend may emerge, targeting 40,480 and 40,320.
Key Levels:
Pivot Line: 40900
Resistance Lines: 41030, 41345, 41600
Support Lines: 40800, 40660, 40470
Expected Trading Range Today:
The price is likely to fluctuate between support at 40800 and resistance at 41130.
Trend: Upward movement.
