Looks like 240 is incoming, most likely this move comes with a cool Core PCE this Friday and if not then, then most likely on next month job numbers .
Weekly trendline resistance from 2010 has resistance at around 240ish.
That's only another 3% upside
In an extreme move we could see price momentarily push above 240 and tag 245
From 245 I can't see price heading higher going into Seasonality of Sept.. so I'd be looking for a top signal above 240 and a correction from there to 210.00
Here's the price action from April lows..
Simple channel..
I don't think we tag support again until 240 is tested, we could just grind mid channel all the way back to ATH like that Green circle of price I highlighted.. let's see if we get more of a dip towards 230-232 before Friday's core pce , IMO that would be the entry for a final leg up.
Weekly trendline resistance from 2010 has resistance at around 240ish.
That's only another 3% upside
In an extreme move we could see price momentarily push above 240 and tag 245
From 245 I can't see price heading higher going into Seasonality of Sept.. so I'd be looking for a top signal above 240 and a correction from there to 210.00
Here's the price action from April lows..
Simple channel..
I don't think we tag support again until 240 is tested, we could just grind mid channel all the way back to ATH like that Green circle of price I highlighted.. let's see if we get more of a dip towards 230-232 before Friday's core pce , IMO that would be the entry for a final leg up.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.