Market Analysis – January 15
The US 30 index has decisively broken the bullish trendline that supported its rise from the 38523.0 demand level to the 44873.0 supply zone. Following this break, the market has retested the trendline, reinforcing the momentum of the ongoing price reversal. This retest confirms the invalidation of the bullish structure and paves the way for heightened bearish activity.
US 30 Key Levels
Demand Levels: 41870.0, 39967.0, 38523.0
Supply Levels: 43256.0, 44874.0, 45000.
US 30 Long-Term Trend: Bearish
A double-top pattern formed at the 39968.0 resistance level, hinting at potential weakness. The third test of this level in July led to a bullish breakout, but the Stochastic indicator displayed overbought conditions. This was followed by a significant drop to the 38523.0 demand level, where buyers responded with strong upward momentum, temporarily reversing the trend.
Upon reaching the 44873.0 resistance level, overbought signals reappeared on the Stochastic indicator. This prompted a sharp decline that invalidated the bullish trendline and ushered in stronger bearish dominance. The subsequent retest of the broken trendline has amplified selling pressure, solidifying the shift in market sentiment toward bearishness.
US 30 Short-Term Trend: Bullish
In the short term, the price has dropped to the 41870.0 demand level, forming a bearish parallel channel on the 4-hour chart. The Stochastic indicator has once again signaled overbought conditions as the price climbs to the channel’s upper resistance. However, this temporary bullish move could provide sellers with an opportunity to re-enter the market and push the price lower toward the next demand zones.
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