The Fed lowered its interest rate from 1.75% to 1.25% yesterday. This decision was made to stimulate the economy and support stock markets in difficult times.
A descending truncated pattern has formed on the chart. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator shows an exit from the oversold zone.
Trading recommendatoins:
Buy while an ascending pattern is forming, where the wave a breaks through the inclined channel of the descending truncated pattern.
Stop loss: 185.00.
Target levels: 203.30; 209.30.; 218.10.