US 30 Bears Reach the First Target

Market Analysis – March 28

US 30 sellers regained control of the market after a bearish breakout from the symmetrical triangle on the daily chart in February. The market is currently experiencing a pullback in the downward trend.

US 30 Key Levels:

Resistance Levels: 32751.0, 34209.0, 35551.0
Support Levels: 31718.0, 30171.0, 28675.0

US 30 Long-Term Trend: Bearish

US 30 experienced multiple bearish waves last year. The first bearish wave in January caused the market to decline from 37007.0 to 34209.0. The second wave in February was signaled by a double-top bearish reversal pattern hanging at 35551.0. An inverse head and shoulders pattern was used to engineer the third bearish wave in April from 35551.0 to 31718.0. In June, three black Crows delivered the bearish displacement from 32751.0 to 30171.0.

A long-term bullish trend played out before the last bearish wave. In June, the stochastic and RSI (Relative Strength Index) indicated that the market was oversold. The price rose from 30171.0 to 34209.0 between June and August before the final bearish displacement for the year. The last bearish move dropped the price from 34209.0 to 28675.0.

US30 Short-Term Trend: Bearish

The market structure is currently bearish. The market is currently on a pullback to 32751.0 The retest of the key level is expected to foster a selloff towards the order block at $30171.0.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.