USNAS100 remains in a consolidation phase with a downside bias

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The USNAS100 remains in a consolidation phase with a downside bias, following a slight price slip on Friday, as traders turned cautious ahead of the PCE inflation report — the Fed’s preferred gauge for inflation This Personal Consumption Expenditures (PCE) report, due pre-market, is highly anticipated and may play a pivotal role in shaping the Federal Reserve's September rate decision.

Price action remains below key resistance levels As long as the index fails to break above resistance, the bias remains bearish A downside break from consolidation could target 22,540 in the short term.

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