US30 21/APR/2023The US stock market went down because banks and financial companies were selling their stocks. People who invest money were also getting ready to see a report about jobs, which could change how much interest banks charge for loans. There were some reports that showed the US economy is doing well.
But this made some people worry that the Federal Reserve, which controls how much interest banks charge, might raise interest rates to slow things down. There is no data that suggests the Fed should stop raising interest rates, but many investors decided to sell their stocks to be safe and invest in things like bonds, which are less risky and pay back more money.
When we look at the technical analysis of US30, we see that the price is close to an area where it has had trouble going higher before. This is called the resistance area, and it often makes it harder for the price to keep going up. Because of this, it's possible that the price will go down instead. We can see some signs that this might happen, such as the RSI10 indicator which shows a crossings signal that suggests selling might be a good idea.
