The USNAS100 remains in a consolidation phase with a downside bias, following a slight price slip on Friday, as traders turned cautious ahead of the PCE inflation report — the Fed’s preferred gauge for inflation This Personal Consumption Expenditures (PCE) report, due pre-market, is highly anticipated and may play a pivotal role in shaping the Federal Reserve's September rate decision.
Price action remains below key resistance levels As long as the index fails to break above resistance, the bias remains bearish A downside break from consolidation could target 22,540 in the short term.
You may find more details in the chart.
Trade wisely best of Luck,
Ps; Support with like and comments for better analysis Thanks for supporting.
Price action remains below key resistance levels As long as the index fails to break above resistance, the bias remains bearish A downside break from consolidation could target 22,540 in the short term.
You may find more details in the chart.
Trade wisely best of Luck,
Ps; Support with like and comments for better analysis Thanks for supporting.
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Related publications
Disclaimer
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.