US 30 Bulls Are Still On The Attack

Market Analysis – July 17

US 30 bulls are still on the attack as they keep pushing the market forward with their bullish trend. Since last week, the bullish strength has been increasing progressively, and this has caused a shift in the market structure. Before this, the market had been stagnant in a sideways movement, with prices kept locked between the 34418.30 and 33602.90 market zones.

US 30 Key Zones

Resistance Zones: 35291.80, 34418.30
Support Zones: 32747.60, 31852.60

US 30 Long-Term Trend: Bullish

Now, the buyers have managed to break through the key zone of 34418.30, and they are pushing the market further forward with their bullish attack. The bulls have pushed the price back up towards the 35291.80 market level, and with the presence of more bullish momentum, the price could break through even further.

If the bullish momentum continues to be present, the price could break further in the market. Therefore, traders should stay alert and pay close attention to the price playout in the coming days. It is important to monitor the price movements and look for any signs of potential trend reversals. Doing so will allow traders to make more informed decisions and capitalize on any opportunities that may present themselves.

On the daily chart, the buyers are maintaining strong forces, starting with the Parabolic SAR (Stop and Reverse) indicator. This is, however, shown in a bullish direction. The Bollinger Band indicator is therefore also closing out for more bullish expansion in the market.

US 30 Short-Term Trend: Bullish

The bullish action remains in motion on the 4-hour chart. This implies that the buyers are not ready to cool down at the moment until the next order level is breached. As the momentum keeps increasing, traders should look out for a rest or pullback before entering the bullish trend. The buyers are therefore targeting the 35291.80 key zone in the market.

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