US100 tests local lows from January
US100 dropped down sharply today despite a positive opening on Wall Street. This is a further response to rising US yields. Today at 5:00 GMT, Fed Chair Powell will deliver a speech, during which may decide to intervene in a verbal way, which will provide support for the equity market. At the moment, index is testing 12,500 pts level, which coincides with the smaller overbalance structure from last October. The larger structure shows that support is located around 12,000 pts, just above the 61.8 retracement of the last big uptrend.
US100, D1 interval. Source: xStation5
