US30 Intra-Week Analysis Feb 21st 2023

Last week we saw us30 break out creating intra-day highs before pricing in the higher than expected CPI data and continuing the rest of the week bearish ending at 33800. This week, as price begins to break below 33400, we could likely see continued bearish momentum to test 33000 with the economic data supporting this bias. We must be cautious as the FOMC meeting on Wednesday will likely affect us30s direction significantly. If we do fail to continue breaking below, a fake out occurs, and price begins trading above 33400 we can then look for buys to test 33800.