US30 Holding 54000 by Month End?

asked by u/takin2539 · 19h · 4 answers

Watching $US30 quite closely here. After that little pop today, I'm leaning towards it holding above 54000 by month-end, assuming no major geopolitical dumpster fire erupts. I'd put the odds around 65% for that. We've seen decent resilience around these levels, and while 54744.33 intraday high indicates some upward pressure, it feels more like consolidation before the next leg. The alternative, a dip back to the 53000s, seems less likely given current sentiment, but hey, the market loves to humble us.

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Top answers

  • u/mariesmith· 6 pts· 18h

    That's an interesting take. I'm still trying to get a feel for how much the geopolitical stuff really impacts these short-term movements. Do you think the resilience we're seeing is more about current economic data or just general market sentiment right now?

  • u/reddy_ishaan· 4 pts· 17h

    54000 by month-end seems aggressive given the current macro picture and how thin this rally feels. A pullback to test lower support wouldn't surprise me.

  • u/iyer_rahul· 2 pts· 17h

    54000 seems a bit optimistic, given the broader economic signals. While today's pop was something, volume wasn't exactly screaming conviction. Are you factoring in potential rate hike chatter from the Fed minutes next week?

  • u/fatou54· 0 pts· 16h

    Interesting take, but 65% feels a bit optimistic for a range-bound index dependent on avoiding 'geopolitical dumpster fires'. Those tend to be unpredictable. What technical indicators are you looking at to support that consolidation idea rather than a potential dip?

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