Fed's Significant Rate Cut Elicits Muted Response, But Calm May Be Temporary
The price is expected to maintain its bullish trend, supported by strong bullish volatility following the 50 bps rate cut. Currently, as long as the Nasdaq trades above 19,690, the price is likely to target 19,970 as an initial point, with 20,100 as the next potential level. A reversal below 19,680, however, could indicate a shift to a bearish trend towards 19,535.
Key Levels:
Pivot Point: 19,690 Resistance Levels: 19,970, 20,120, 20,500 Support Levels: 19,535, 19,370, 19,160 Expected Trading Range for Today: 19,680 to 19,980