Dow (US30) coiling price action after increase in US PPI dataThe Dow (US30) index price action sentiment appears bullish, supported by the longer-term prevailing uptrend. However, since reaching an all-time high on 04th December 2024 the Dow index price action is consolidating in a sideways trading range. Today, Thursday 13th February 2025 the US (PPI) Producer Price Index data was published showing the increase to 3.5% on a yearly basis in January. The annual core PPI rose to 3.6% in the same period, surpassing market forecasts of 3.3%. On a monthly basis, the PPI and the core PPI rose 0.4% and 0.3%, respectively.
The key trading level is at 44206, the current swing low. A corrective pullback from the current levels and a bullish bounce back from the 44206 level could target the upside resistance at 44980 followed by the 45080 and 45200 levels over the longer timeframe.
Alternatively, a confirmed loss of 44206 support and a daily close below that level would negate the bullish outlook opening the way for a further retracement and a retest of 44000 support level followed by 43740.
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