US30 stalls amid Fed uncertainty and trade policy risks
Macro:
- The Dow remained in a prolonged sideways trend within a tightening range, navigating Fed policy uncertainty, geopolitical risks, and evolving trade policies.
- Markets expect it to stay range-bound until the Trump administration finalizes tariff measures early next month.
Technical:
- US30 is trading in a tight range at the previous top level and awaits an apparent breakout to determine the potential trend.
- If US30 breaks above the resistance at 45000, the index may continue rising to 47146, the 100% Fibonacci Extension level, which is confluence with the Ascending Channel's upper bound.
- On the contrary, a closing below 44000-44200 may prompt a further correction to restest the following support at 43300.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness