The market had priced in the no rate changes, however, the FED members' expectation of one additional hike and keeping the rates high in 2024 created a downside pressure for the markets. Although the record of the FED members' predictions for these matters is very poor, the market decided to use this opportunity for the traditional sell party in September.
US100 is testing a strong support level again. We have huge volume support here. Breaking here means visiting 13600 levels. Having said that, the initial reaction is positive, and OBV and RSI show some bullish signals.
I believe keeping the rates at the same level is a positive sign since it indicates a strong economy. I am expecting a strong rally until the FED realizes that they messed up and needs to cut rates. Then it would be very bloody!
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
US100 is testing a strong support level again. We have huge volume support here. Breaking here means visiting 13600 levels. Having said that, the initial reaction is positive, and OBV and RSI show some bullish signals.
I believe keeping the rates at the same level is a positive sign since it indicates a strong economy. I am expecting a strong rally until the FED realizes that they messed up and needs to cut rates. Then it would be very bloody!
Disclaimer – WhaleGambit. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
