US30 -Futures Plunge Amid Economic Worries; Jobs Report in Focus
Futures Decline Sharply Amid Economic Concerns; Focus on Jobs Report
Technical Analysis: US30
Current Outlook: The US30 index has dropped approximately 2.50% from the previously noted resistance level of 41,055. Today's trading is expected to be highly sensitive and volatile due to the impending jobs data release.
Bullish Scenario: For an uptrend to commence, the price must stabilize above 40,060, potentially advancing to 40,420.
Bearish Scenario: Should the price remain below 40,060, the bearish trend is likely to continue towards 39,790 and further down to 39,410.
Key Levels:
- Pivot Line: 40,060
- Resistance Levels: 40,260, 40,420, 40,650
- Support Levels: 39,790, 39,580, 39,410
Today's Expected Trading Range: The price is anticipated to fluctuate between the support at 39,410 and the resistance at 40,420.
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Futures Decline Sharply Amid Economic Concerns; Focus on Jobs Report
Futures experienced a significant decline on Friday following disappointing forecasts from Amazon and Intel, which intensified concerns about the health of the U.S. economy. Investors are now keenly awaiting a crucial jobs report for insights into the labor market's condition.
All attention will be on the nonfarm payrolls reading at 8:30 a.m. ET, which is expected to provide further indications of a potential easing in the U.S. labor market. According to LSEG, the data is projected to show an increase of 175,000 jobs in July, following an addition of 206,000 jobs in June.
Previous idea:
Technical Analysis: US30
Current Outlook: The US30 index has dropped approximately 2.50% from the previously noted resistance level of 41,055. Today's trading is expected to be highly sensitive and volatile due to the impending jobs data release.
Bullish Scenario: For an uptrend to commence, the price must stabilize above 40,060, potentially advancing to 40,420.
Bearish Scenario: Should the price remain below 40,060, the bearish trend is likely to continue towards 39,790 and further down to 39,410.
Key Levels:
- Pivot Line: 40,060
- Resistance Levels: 40,260, 40,420, 40,650
- Support Levels: 39,790, 39,580, 39,410
Today's Expected Trading Range: The price is anticipated to fluctuate between the support at 39,410 and the resistance at 40,420.
-----------
Futures Decline Sharply Amid Economic Concerns; Focus on Jobs Report
Futures experienced a significant decline on Friday following disappointing forecasts from Amazon and Intel, which intensified concerns about the health of the U.S. economy. Investors are now keenly awaiting a crucial jobs report for insights into the labor market's condition.
All attention will be on the nonfarm payrolls reading at 8:30 a.m. ET, which is expected to provide further indications of a potential easing in the U.S. labor market. According to LSEG, the data is projected to show an increase of 175,000 jobs in July, following an addition of 206,000 jobs in June.
Previous idea:
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