U.S. Futures Poised for Volatility as CPI Report Looms, Focus on Bullish Trend
U.S. futures remain stable as markets await the much-anticipated CPI report, with the outcome expected to have a significant impact on market movements. Current projections suggest the CPI will come in around 2.5%, indicating a weakening USD, which could drive indices into a strong bullish trend. However, if the CPI exceeds 2.7% or 2.8%, market movements could become unpredictable, with a potential downward shift.
The price has retested its support level, as previously noted. For today, volatility is expected, with a greater focus on an uptrend, assuming the CPI result aligns with the 2.5% forecast. Stability above 40,470 will likely support a rise towards 40,790 and 41,030, with further potential depending on the CPI data. In the bearish scenario, if the CPI exceeds 2.8%, a downtrend toward the levels identified in the chart could materialize.
Key Levels:
Pivot Point: 40650
Resistance Levels: 40790, 41030, 41180
Support Levels: 40320, 40010, 39900
Expected Trading Range: 40320 - 41030
Trend: Bullish while above 40470.