The US 30 index has established a bullish trend, emerging from the significant bullish order block at the 38,560 demand level on the daily chart. The market structure is characterized by consistent higher lows, which form a bullish trendline, supporting a positive outlook for further price appreciation.
The US 30 has faced challenges in surpassing the resistance level at 39,986.0. The price is currently rising after a second unsuccessful attempt to breach this level. Notably, the recent price action has formed a higher low relative to the major low established in the demand zone of 37,750.0. This suggests that buyers are stepping in at higher levels, maintaining the overall bullish trend.
The current price increase has invalidated the bearish order block at 39,114.0, which was formed during the pullback to the 38,560.0 demand zone. The price is now ascending from a micro-order block, indicating renewed bullish momentum. This micro order block serves as a strong foundation for the next potential upward move, reinforcing the positive market sentiment.
US 30 Long-Term Trend: Ranging
The bulls are making a renewed attempt to break through the supply level of 39,986.0. The Moving Average Convergence Divergence (MACD) indicator shows increasing bullish momentum on both the daily and 4-hour charts, suggesting a potential continuation of the upward trend. The MACD histogram is expanding, reflecting the strengthening buying pressure and reducing the likelihood of a bearish reversal in the near term. The best forex signals further affirm this bullish outlook.
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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