Dow Jones US30 Chart Technical Outlook moves cautiously ahead of the FOMC meeting
Risk sentiment is muted ahead of Wednesday’s busy schedule (the US CPI and FOMC meeting are scheduled for tomorrow). Dow Jones is correcting higher, with scope for mild gains towards the resistance zone of Fib levels, 39,050 to 39,300. Support is located at 38,550.
Today’s calendar is light, with no catalyst to shift this cautious sentiment. I expect sideways price action with a weak probability of breaking the mentioned barriers.
