US30 6H (Sensitive, War Tensions & Earnings)

Futures drop as Middle East tensions simmer, Netflix slumps

Kathleen Brooks, research director at XTB, highlighted in a note that any misstep resulting in casualties or hitting unintended targets could escalate retaliations and deepen the crisis in the Middle East. She noted that such volatility is expected to persist, particularly during a sensitive period for financial markets as they adjust their expectations regarding interest rate cuts.

In corporate news, Netflix (NFLX) saw its shares fall 6.4% in premarket trading due to a disappointing forecast for its second-quarter earnings.

Technically:

The price experienced a significant drop influenced by the situation in the Middle East. It is now approaching a resistance level at 37,960, after which it is expected to follow a bearish trend, potentially reaching levels of 37,620 and 37,150, particularly if it breaks through 37,620.

Conversely, if it stabilizes above 38,065, the price will likely continue its bullish trend, aiming for higher resistance points at 38,380 and 38,560.


Pivot line: 37770
Resistance Prices: 37960, 38070, 38385
Support Prices: 37450, 37120, 36860

The movement range will be between support 36860 and Resistance 38385

previous idea: