The US 30 index has displayed signs of weakening bullish momentum, with its price steadily declining over recent days. The index retraced from a swing high of 43,313.0 to the key support level of 42,562. This support level aligns with a bullish trendline, creating a significant confluence that could lead to potential price reversals.
The long-term trend remains bullish, as indicated by the bullish wedge pattern visible on the daily chart. After completing a pullback that pushed the price above the 40,201.0 resistance, the US 30 index has maintained a bullish market structure.
The lower band of the Bollinger Bands has consistently provided support, working alongside the bullish trendline to offer strong confluence during upward price movements. As the price now hovers around 42,562.0—where a bullish order block exists—this area is likely to act as a key support for a potential continuation of the uptrend.
US 30 Short-Term Trend: Bearish
In the 4-hour timeframe, the market structure reveals a bearish pullback, with the price dipping into the 42,562.0 support zone. This key demand level presents buyers with an opportunity to open long positions, as the current price sits within discounted levels, potentially setting the stage for a bullish recovery, supported by forex signals.
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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