The US 30 stock index remains volatile and recently broke below a key support level, signalling a shift to a downtrend. The US 30 forecast for today is negative.
US 30 forecast: key trading points
- Recent data: US services PMI (preliminary) came in at 55.2 in July
- Market impact: this could boost investor optimism, as a strong services sector often indicates overall economic resilience
US 30 fundamental analysis
The US services PMI for July came in at 55.2, beating both the forecast of 53.0 and the previous reading of 52.9. This result signals robust expansion in the services sector – a major component of the US economy – and reflects solid business activity growth. The rise in the PMI shows that companies across services, from finance to transport and hospitality, are seeing stronger demand and improved conditions.
However, such a strong PMI could spark debate over the Federal Reserve’s pace of rate cuts. If the economy appears overheated, the Fed may proceed more cautiously, which could temporarily weigh on rate-sensitive stocks. Overall, the PMI data is a strong positive signal for the US 30 and may support further index gains in the short term.
US 30 technical analysis
The US 30 index has once again reversed its direction and is currently on the rise. The resistance level has formed at 45,065.0, with the support level at 44,175.0. Volatility remains elevated for the US 30, and no clear short-term trend has yet been established. However, there is still potential for a new all-time high.
The following scenarios are considered for the US 30 price forecast:
- Pessimistic US 30 scenario: a breakout below the 44,175.0 support level could push the index down to 43,210.0
- Optimistic US 30 scenario: a breakout above the 45,065.0 resistance level could drive the index up to 45,725.0
Summary
The US 30 index has yet to form a stable trend. A new all-time high is possible. The next upside target may be the 45,725.0 mark. Strong services PMI data could support further gains in the short term, although remarks from the US Federal Reserve may influence the current trend.
Source: Roboforex
