(NASDAQ) CPI & Fed Rate: Key Drivers for Market Volatility Today

12 juinTechnical Analysis Nasdaq

The price reached the target we mentioned yesterday and has now achieved 19,250.

• Today's Outlook:
  Today, the market is expected to be volatile due to the CPI release and the Federal Reserve's rate decision. A CPI reading below 3.4% is likely to support an uptrend, while a reading above 3.4% could negatively impact the indices.
  
  
• Bullish Scenario:
  If the CPI is below 3.4%, as long as the price trades above 19,100 and 19,220, the bullish trend is expected to continue towards 19,450. It is possible that the price may retest 19,100 before resuming the bullish trend.
  
  
• Bearish Scenario:
  If the CPI is above 3.4%, stabilization below 19,100 would indicate a move towards 18,940. A further break below 18,940, confirmed by a 1-hour candle close, would signal a downtrend towards 18,810.
  
  
• Key Levels:- Pivot Line: 19,200
  - Resistance Levels: 19450, 19570, 19720
  - Support Levels: 19100, 18940, 18810
  
  
• Today's Expected Range:
  The price is expected to move between the support at 18,940 and the resistance at 19,570.
  
  
• Our Previous Prediction: