US30 Equity Investors Eye Inflation Data as Dow Jones Tests Key
US Equity Investors to Focus on Inflation Tomorrow to Guage Depth of Potential Fed Rate Cuts
US equity investors will focus on the consumer and wholesale price inflation data this week to assess the extent of forthcoming interest-rate cuts in September.
The Dow Jones is attempting to correct down to 40,670 before potentially pushing upward again towards 41,030. If it breaks below 40,670, it could continue toward the trend line at around 40,470. However, if the price stabilizes above 40,670, the uptrend towards 41,030 is likely to resume. The bearish zone will be confirmed with a break below 40,470.
Key Levels:
Pivot Point: 40760
Resistance Levels: 41030, 41180, 41340
Support Levels: 40670, 40470, 40320
Expected Trading Range: 41180 - 40670
Trend: Bullish while above 40670.
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