US 30 Buyers Take Over as Price Consolidates

Market Analysis – July 13

The US 30 market is currently witnessing a takeover by buyers as the price continues to consolidate. After a downward movement that led to a drop in price to the key zone at 33686.50, buyers have taken control and established an uptrend.

Over the past few weeks, prices have remained relatively stable, consolidating between the key levels of 34407.20 and 33686.50. This consolidation phase indicates a period of indecision and potential market equilibrium. However, if buyers fail to breach the 34407.20 level in the coming days, it could suggest that the US 30 market might continue its sideways movement.

US 30 Market Levels

Resistance Levels: 34407.20, 33686.50
Support Levels: 32747.40, 31780.30

US 30 Long Term Trend: Bullish

The bulls have been in control of the US 30 market since they entered at the key level of 31780.30 several months ago. Their strength has been consistently building, as evidenced by their ability to push the market through multiple key levels. This signifies the overall upward trend that the US 30 market has been experiencing. However, the current sideways movement indicates that buyers may face challenges in breaking through the 34407.20 level in the near future.

Traders should be aware of the risks associated with such a situation and remain vigilant in monitoring the market for any signs of a shift in market conditions. Any significant developments could influence the market’s direction and be a determining factor in whether buyers are able to surpass the 34407.20 level.

US 30 Short Trend: Bullish

On the 4-hour chart, buyers are seen gaining momentum and creating a potential for further upward movement. Although the market is currently range-bound, traders are maintaining a calm and alert stance, anticipating a breakout from the consolidation phase. Nevertheless, the bulls are targeting the key zone at 34407.20.

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