VCSC Daily - 580 resistance bends on Fed and oil news but does not break - Fed

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The VN-Index broke the 580 resistance level by gaining 6.3 points and reached an intraday high of 583.3 within the first 27 minutes of trading. The strong rally was triggered by the U.S. Fed announcing no change to interest rates for the moment and reducing the expected number of rate hikes this year from four to two. In addition, Brent Crude prices increased 3% to reach USD41/bbl, pushing oil & gas to be the top performing sector, with strong gains from PVD (+3.9%), PVS (+2.4%) and PVC (+2.7%).