US 30 Price Takes Off from Bullish Order Block

Market Analysis – June 24

The US 30 price has surged from the bullish order block at 38,560.0. This pullback has formed a higher low, reinforcing the market’s bullish stance. The appearance of full-sized bullish candles on the daily chart indicates the market’s intent to push towards 39,986.0.

US 30 Key Levels

Demand Levels: 39115.0, 38560.0

Supply Levels: 39986.0, 40000.0
US 30 Long-term Trend: Bullish
The US 30 market was bearish for most of April, showing a significant downward trend. However, this bearish phase was brief, as the price reversed with a double bottom pattern, ending the month on a stronger note. In May, the market reestablished its bullish trajectory by forming a new high.

After forming this new high, the Bull and Bear Power indicator reflected a decline in buying momentum, as its slope decelerated towards zero, indicating reduced bullish strength. The subsequent dip into the discount region of the swing provided optimal entry opportunities for buyers, who capitalized on the lower prices to drive the market higher.
US 30 Short-term Trend: Bullish
On the lower time frame, a bullish structure shift provided an early signal of the uptrend’s resumption. The Parabolic SAR has aligned beneath the candlesticks, confirming the bullish momentum. Furthermore, three white soldiers have emerged above the previous resistance level of 39,114.60, a classic bullish pattern indicating strong upward movement. Traders are now targeting the next resistance zone at 39,986.0, as indicated by the best forex signals. This level is anticipated to be a critical area for potential profit-taking and further market analysis.

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