SPx (US Futures Dip Ahead of PCE Data with Technical)
US Futures Dip Ahead of PCE Data
US stock futures edged lower on Friday as investors braced for the April PCE price index report, the Federal Reserve's preferred inflation gauge.
Technical Analyse:
The price dropped by approximately 0.27% from yesterday and reached our target, as mentioned in the previous analysis.
For today, the price is expected to move between 5240 and 5220 until a breakout occurs. Bearish pressure remains, and stability below 5220 will likely support a further decline to 5192, with 5168 as the next target. Conversely, stability above 5240 will suggest an attempt to reach 5260.
Today’s expected trading range is between the support at 5168 and the resistance at 5262.
previous idea:
US stock futures edged lower on Friday as investors braced for the April PCE price index report, the Federal Reserve's preferred inflation gauge.
Technical Analyse:
The price dropped by approximately 0.27% from yesterday and reached our target, as mentioned in the previous analysis.
For today, the price is expected to move between 5240 and 5220 until a breakout occurs. Bearish pressure remains, and stability below 5220 will likely support a further decline to 5192, with 5168 as the next target. Conversely, stability above 5240 will suggest an attempt to reach 5260.
- Pivot Line: 5226
- Resistance Levels: 5260, 5284, 5320
- Support Levels: 5193, 5168, 5114
Today’s expected trading range is between the support at 5168 and the resistance at 5262.
previous idea:
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