Bearish Outlook Continues Ahead of NFP and U.S Jobs Data Release

NFP, Unemployment Rate, and Average Hourly Wage Data Set for Release Today

The price declined by approximately 550 points, as highlighted in our previous analysis.

From a technical standpoint, today's outlook remains bearish, supported by the positive U.S. jobs data. The price is projected to reach 40,470 and 40,320, with a potential break below 40,320 paving the way toward 40,000. Alternatively, if the price stabilizes above 40,470, it may consolidate between 40,470 and 40,800.

These economic reports are expected to significantly influence Dow Jones market movements.

Key Levels:

Pivot Point: 40620
Resistance Levels: 40700, 40800, 41030
Support Levels: 40470, 40320, 40000

Expected Trading Range: 40700 - 40000

Trend: Bearish while under 40630.