US100 Movement: Expected Drop to $19,800-$19,720

US100 Movement Analysis:

Date of Analysis: 03rd July 2024

Key Levels:
Strong Support: $19,480
Strong Resistance: $20,119
Current Situation:
US100 has not broken through the strong resistance level at $20,119.

Expected Movement:
Given the failure to break the resistance, it is reasonable to expect US100 to move down towards the range of $19,800 to $19,720.

Analysis:
Support and Resistance Levels:

Support at $19,480: This level provides a floor where buying interest is sufficient to prevent further decline.
Resistance at $20,119: This level acts as a ceiling where selling interest is strong enough to cap further price increases.
Current Trend:

The inability to break through the resistance level indicates persistent selling pressure and a potential reversal or pullback.
Next Target:

Given the failure to surpass $20,119, the next logical move would be towards the support region. The expected target range is between $19,800 and $19,720.

Conclusion:
The US100's failure to break the $20,119 resistance level suggests a potential downward movement. The index is expected to move towards the range of $19,800 to $19,720. It is important to monitor market conditions for any changes that might affect this projection.