US 30 Sellers Eye A Price Reversal

Market Analysis – August 15th

US 30 sellers eye a price reversal as buyers are getting shut out. The buyers had been exerting bullish pressure earlier on. But they paused their momentum after reaching above the 35012.60 market level.

Throughout this month, the money flow has been stuck in consolidation. The price has been consolidating between the significant zones of 35619.10 and 35012.60.

US 30 Market Zones:

Resistance Zones: 35619.10, 35012.60
Support Zones: 33512.30, 32821.60

US 30 Long-Term Trend: Bullish

Earlier this year, the bulls raised the bar. They gained strength above the key zone of 32821.60. After a few weeks of consolidation in July, the buyers moved above the 34262.40 market zone. A further bullish extension was seen near the 35619.10 key level.

However, the current consolidation has slowed the momentum. It, therefore, appears that the bears are pushing against the buy pressure. The market sentiment could change if the buyers fail to regain control. The MACD indicator could shift in favor of the bulls, indicating a potential trend change.

As sellers eye a price reversal, this could be an opportunity for them to leverage their position. If a breakout occurs below the 35012.60 market level, sellers could gain an advantage. On the other hand, if the consolidation zone leads to a breakout, the buyers will take charge.

US 30 Short-Term Trend: Bearish

On the 4-hour chart, the price is currently seeking to penetrate lower. With the influx of sellers, the bears have a higher chance of winning. This will provide more opportunities for further breakthroughs.

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.