US 30 Pullback Approaches After Reaching Yearly High

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Market Analysis – May 22

The US 30 experienced a price decline that was halted after mitigating the bullish order block at 37,238.0. The price then resumed its ascent, reaching the current year’s high. While the US 30 market remains bullish, a pullback appears imminent due to overbought conditions.

US 30 Key Levels

Demand Levels: 38,560.0, 37,753.0, 37,238.0
Supply Levels: 39,986.0, 40,000.0, 41,000.0

US 30 Pullback ApproachesAfter Reaching Yearly High

Long-term Trend: Bullish

In mid-April, the Stochastic indicator revealed that the US 30 market was oversold. A higher low signaled an impending bullish reversal, which was confirmed when the shorter Moving Average (period 9) crossed above the longer Moving Average (period 21). This indicated a change in market direction.

Since then, the price has risen steadily from 36,560.0 to the current year’s high of 39,986.0. The Moving Averages (periods 9 and 21) remain below the daily candles, indicating a continued bullish stance. However, the Stochastic is currently in the overbought region, revealing buyer exhaustion and suggesting an imminent pullback.

US 30 Short-term Trend: Ranging

US 30 Pullback ApproachesAfter Reaching Yearly High

On the 4-hour time frame, the market is currently ranging. The chart reveals a demand zone at 39,600.0, which appears as a bullish order block on the higher time frame. The price is expected to pull back to this demand zone to support further bullish movement.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *