Market Analysis:
Federal Reserve Chairman Powell stated that the policy rate remains somewhat restrictive, but allows the Fed to better respond to potential economic developments; tariffs are expected to have a one-time pass-through effect; and decisions will “never be based on political considerations.” Fed spokespersons noted that Powell’s comments indicate that he believes interest rates remain tight, potentially opening the door for further rate cuts.
Technical Analysis:
Today’s Buy/Sell Levels:
63.01
Support and Resistance Levels:
65.01
64.26
63.77
62.24
61.75
61.01
Trading Strategy:
On a break above 63.77, consider a buy entry, with the first target at 64.26.
On a break below 63.01, consider a sell entry, with the first target at 62.24
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