US30: Thoughts and Analysis Post-CPI

EIGHTCAP:US30   Dow Jones Industrial Average Index
Today's focus: US30

Pattern – Diagonal
Support – 38,135, 37,135
Resistance – 38,810

Hi, traders; thanks for tuning in for today's update. Today, we are looking at the US30 on the daily chart.

What a solid run we have seen till yesterday's CPI data. After US CPI came in hotter than expected, this shocked the market and led to heavy selling on stock indexes and risk currencies with a flight to safety (USD).

We have broken down price action, price patterns and levels we are watching. Is this nothing more than a buying opportunity, or is this a potential momentum change?

Good trading.


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