FOMC Day: Expect Overall Trading Range
04/29/2015 7:00 am EST
Christopher Terry, of iMarketsLive.com, shares a video in which he discusses several key short-term levels to watch on Wednesday in front of the FOMC.
Traders should expect the markets to be in an overall trading range on Wednesday, due to the FOMC, but there are four key short-term levels to still watch for the day. The first place to pay attention to is around the swing high from Tuesday at 2112.50. The second to watch is at the 2106 level and the third zone to pay attention to is the action around 2100. Finally, the last zone to take note of is around 2118, which is important, should the market trade higher.
Although Christopher is expecting the market to be active for the first few hours of trading on Wednesday, he is not expecting too much action overall in any of the markets after this time in preparation and lead up to the FOMC announcement.
By Christopher Terry, Contributor, iMarketsLive.com