๐ฆFundamental Analysis
There is no change in the general projection of the FED.
+0.2 high or -0.5 low inflation data can occur with simple price fluctuations. (Commodity Prices)
Unless there is a significant deterioration in economic data, the FED will be determined to reduce inflation.
Because long-term inflation leads to price uncertainty, leading to uncertainty on the supply-demand side. (in summary)
โณIf We Examine the Price Charts on a Daily Basis
Level 11500 is the 0.236 Fibonacci level between A-B before.
It can be interpreted as a 3-wave bearish movement between B-C.
12920 is an important resistance (0.618 between B-C)
This level needs to be crossed before we can be sure that an upward movement has started.