Wall Street Edges Up Amid Fed Rate Cut Optimism; Earnings in Focus
U.S. stock indices rose on Wednesday, supported by growing expectations of Federal Reserve rate cuts later this year. Investors are also closely monitoring a fresh wave of corporate earnings, which continues to influence sentiment.
Technical Outlook
The price is currently holding above the key pivot level at 23045.
As long as it remains above this level, bullish momentum is expected to continue toward 23180 and 23295.
A confirmed breakout above 23295 would likely extend the rally toward 23440.
⚠️ On the other hand, a 1H close below 23045 would shift momentum to bearish, targeting 22870 and possibly 22725.
🔹 Resistance Levels: 23180, 23295, 23440
🔹 Support Levels: 22870, 22725
U.S. stock indices rose on Wednesday, supported by growing expectations of Federal Reserve rate cuts later this year. Investors are also closely monitoring a fresh wave of corporate earnings, which continues to influence sentiment.
Technical Outlook
The price is currently holding above the key pivot level at 23045.
As long as it remains above this level, bullish momentum is expected to continue toward 23180 and 23295.
A confirmed breakout above 23295 would likely extend the rally toward 23440.
⚠️ On the other hand, a 1H close below 23045 would shift momentum to bearish, targeting 22870 and possibly 22725.
🔹 Resistance Levels: 23180, 23295, 23440
🔹 Support Levels: 22870, 22725
Note
We mistakenly labeled the position as SHORT, but we actually meant LONG.However, the market maintains a bullish momentum as long as it stays above 23045.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.
Technical analyst focused on gold, indices, and forex.
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
Providing regular updates with structure, entry/exit clarity, and real-time outlooks.
More at: sroshmayi.com/
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.