US 30 Buyers Remain Determined To Seek Dominance

Azeez Mustapha

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Market Analysis – August 29th

US 30 buyers remain determined to seek dominance. Buyers in the US 30 market continue to face resistance from sellers. This, as a result, is limiting their ability to cause significant expansion in the market. The bulls need to gather enough strength to potentially change the outcome of price movement.
Throughout this year, the stock market has exhibited a bullish structure. The bulls have dominated price strength, establishing a positive trend line from the key zone at 31458.50.

US 30 Important Levels

Resistance Levels: 35649.60, 34983.00
Support Levels: 33054.00, 32651.00
US 30 Buyers Remain Determined To Seek Dominance

US 30 Long-Term Trend: Bullish

The US 30 market has shown progress as prices advance along the positive trend line. Demand for securities in the US 30 market seems to be increasing, with more buyers attracted to the market.
Temporary displacement by sellers led to a retracement to 32651.00 in June. However, buyers regained confidence and attracted further interest. The market experienced consolidation in July. Also in August, the bulls extended their price momentum to the 35649.00 key level.
Currently, buyers are rebuilding their positions after a pullback by sellers to the key level of 34054.00. As buyers gain confidence, it is expected that the market will breach the 34805.10 level in the coming days.
The Money Flow Index indicator is approaching the 40.00 level. This will provide insights into price direction as the week progresses. The Parabolic SAR (Stop and Reverse) indicator has yet to confirm a reversal. Traders should remain vigilant for further market indications.
US 30 Buyers Remain Determined To Seek Dominance

US 30 Short-Term Trend: Bullish

On the 4-hour chart, the bulls continue to present a challenge. A break above the 34983.00 level could suggest a return to bullish sentiment in the market. However, the bulls are still seeking additional displacement in the market. This is showing their determination to maintain dominance.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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