US 30, the Dow Jones Industrial Average, is manifesting a technically robust pattern on the daily chart indicative of bullish sentiment. The index has formed what appears to be an ascending triangle—a pattern marked by a series of equal highs, which constitute a resistance line, and a succession of higher lows forming a support line. This technical configuration often precedes a potential breakout, suggesting a continued upward trajectory.
From trading platforms, the daily chart’s depiction of higher lows signals a persistent bullish effort to catalyze a breakout above the formidable resistance at the 40040.0 price zone. Despite the resilience of sellers, who have successfully repelled two attempts to surpass this threshold, the prevailing market dynamics suggest an imminent breach.
Significantly, the bullish momentum was corroborated by the Machine Learning Lorentizan classification indicator, which issued a Buy signal on June 18. Subsequent to this, a modest price retracement occurred, providing a retest of the previously identified US30 bullish order block, setting the stage for a rally toward resistance.
US 30 Short-Term Trend: Bullish
The lower timeframe presents a series of scalping opportunities. The same Machine Learning Lorentizan classification indicator has generated multiple accurate Buy and Sell signals, corresponding with the price fluctuations between the bullish order block and the resistance zone. While scalping against the prevailing trend of higher timeframe institutional order flow is generally considered a higher-risk strategy, the higher strike of forex signals is prevalent when scalping in the direction of the order flow. Given these factors, alongside the alignment of both technical indicators and market structure, the forecast for US 30 is an anticipated advance beyond the 40040.0 resistance level.
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.
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