US30 | Bullish Structure Holds Above Key PivotUS Wall St 30OANDA:US30USDSroshMayi The Dow Jones US30USD remains in a technically bullish structure, but the fundamental backdrop is currently mixed. Strong corporate earnings and renewed AI optimism are supporting U.S. equities, while persistent inflation and elevated Treasury yields remain the main risks to the bullish scenario. Fundamental Outlook: The broader U.S. equity market received fresh support after strong earnings and guidance from Nvidia, which reinforced confidence that AI-related demand remains robust. Other major technology companies also delivered positive results, improving overall market sentiment. However, the macroeconomic side remains more challenging. The latest U.S. PCE inflation reading came in slightly hotter than expected, with headline PCE at 3.7% YoY versus 3.6% expected. This increased expectations that the Federal Reserve may need to maintain a tighter policy stance, which can keep Treasury yields elevated and limit upside momentum in U.S. indices. Attention is now shifting toward Fed Chair Kevin Warsh’s Jackson Hole speech on Friday. His comments could significantly influence expectations for interest rates and Treasury yields, making it an important catalyst for the next major move in US30. Technical Outlook: Technically, US30 maintains a bullish structure as long as the price trades above the 53360 pivot line. Stability above 53360 keeps bullish momentum active toward the first major resistance at 53750. A confirmed breakout above 53750 would strengthen the bullish structure and open the way toward 54070. On the alternative scenario, a 4H candle close below 53360 would invalidate the current bullish structure and confirm stronger bearish momentum toward 53090. A further break below 53090 could expose the next support around 52780. Pivot Line: 53360 Resistance: 53750 – 54070 Support: 53090 – 52780