US30 Intra-Week Analysis Feb 14th, 2023

14 févr. 2023

Last week we saw price continue to range without showing much direction after Powell gave a very optimistic speech but included the fight against inflation is not over. Price came up to test 34300 and failed to break above before flipping bearish to test 33500, failing to break below as well. Momentum shifted bullish to end the week in anticipation of the CPI data released today, which was expected to be 6.2%. This week with CPI being released at 6.4%, which is lower than before but higher than expected, we've already seen some indecision in the market with a slight bullish push after the data was released. However, us30 should continue bearish as the market continues to price in the data. If we fail to break below 33400 we can see price continue back in the range.