US 30 Bulls Step Into Action at 3386.80 Key Level

US 30 Analysis – Buyers Hold Ground Amidst Dollar Weakness

US 30 bulls step into action at the 3386.80 key level following the recent fallout. The stock market appears to be steadily building momentum as traders focus their attention on the 34407.40 market level.

The price of US 30 has been swinging above the trend line on the daily chart since the middle of March, with buyers and sellers engaging in a tug-of-war to reach their respective highs and lows. Last week, the sellers were strong in pushing the price downward, but the buyers have since managed to hijack the price back.

US 30 Key Zones

Resistance Zones: 34407.40, 33868.80
Support Zones: 317860, 28729.50

US 30 Long-Term Trend: Bullish

This June, the buyers made a strong comeback with a bounce off the 32747.70 key zones. However, despite the buyers’ efforts, the sellers were unable to penetrate beyond the 34407.40 market level, causing the stock price to fall.

What’s more, with more investors taking a wait-and-see attitude, the momentum has shifted back to the buyers, who have now hijacked the market in an attempt to push it back up to the 34407.40 market level.
But the question remains: will the buyers be able to keep the momentum going? It’s hard to tell, as the situation is still uncertain.

However, if the buyers can maintain their grip on the market and push forward, they’ll be able to create a strong uptrend and make considerable returns. On the other hand, if the sellers manage to break through the market level, we can expect to see a downturn and a bearish market.

US 30 Short-Term Trend: Bullish

With the recent buy opportunity now present, if buying momentum increases, buyers may eventually trade and breach the 34407.40 key level. The 4-hour chart, therefore, presents a buying opportunity for buyers above the 33686.80 key level.

This implies that traders should brace for a clear buy trend back to the 343307.40 key level as the RSI (Relative Strength Index) pushes forward.

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