US30 Index is just 1% shy of its all-time high!

• Walmart's Q4 earnings due before market opens
   
• FOMC minutes at 19:00 GMT could reveal Fed's outlook
   
• Trump’s tariff proposal threatens market disruption
   
• US30 near critical support and resistance levels
   
• Fibonacci levels suggest possible volatility for US30

Today, the US30 faces a critical landscape shaped by several key events:

• Walmart's earnings report will be unveiled before the market opens
   
• The FOMC minutes, due at 19:00 GMT, are expected to provide crucial insights into the Federal Reserve's economic outlook

Yet, amidst these noteworthy developments, the spotlight is drawn to the looming tariff threats from Trump.

The proposal for 25% tariffs on imports of semiconductors, pharmaceuticals, and automobiles has the potential to disrupt markets significantly, although an implementation date remains unspecified.

Technically, the US30 index is navigating within a symmetrical triangle, and as of this writing, it sits just below the 21-day simple moving average (SMA).
 

This position sets the stage for potential volatility, making it a pivotal moment for investors to watch closely.

The index bears, (those looking to see the index decline further) may look to the following probable support levels:

• 44,305.6 – The 38.2 Fibonacci level which sits just below the support of the symmetrical triangle
   
• 44,042.8 – The 50% Fibonacci level
   
• 43,780.1 – The 61.8 golden Fibonacci level, which coincides with the 50-day simple moving average (SMA)

On the other hand, US30 bulls (those looking to see the index rally further), may pay attention to the following potential resistance levels:

• 44,630.7 – The 23.6 Fibonacci level which coincides with the 21-day moving average
   
• 45,028.9 – The upper limit of the symmetrical triangle
   
• 45,156.2 – The all-time high on the US30

The Fibonacci levels are drawn from November 19th low 42,929.5 to  December 4th’s high at 45,156.2.