US 30 Signals Bearish Reversal Amid Key Support Test

Market Analysis – January 1

US 30 has recently broken below the major swing low of 43450.0, indicating a potential bearish reversal. The price has now reached the critical demand level of 42357.0, which could serve as a point of recovery for buyers. However, a double break of structure is anticipated to confirm the establishment of a sustained downward trend.

US 30 Key Levels

Demand Levels: 42357.0, 41800.0, 41000.0
Supply Levels: 43450.0, 44000.0, 45000.0

US 30 Long-Term Trend: Bearish

Following a swing high at 45056.0, the price experienced a sharp decline, breaking below the Smoothed Heikin Ashi candles, which have now turned red, signaling bearish price action. This move, combined with a breach below the major low of 43450.0, suggests an early shift in market sentiment.

A double break of structure is often a stronger confirmation of trend direction, typically accompanied by a liquidity sweep in the opposite direction, leading to significant price movements. On the daily chart, a lower swing low has formed at 43450.0. A move above this level could signal a potential bullish recovery, though the prevailing trend remains bearish.

US 30 Short-Term Trend: Bearish

In the lower timeframes, bearish momentum persists. The most recent swing low has developed at the demand level of 42357.0. A double break of structure that pierces this demand level would reinforce the bearish trend, creating opportunities for traders to take advantage of the market’s downward movement using forex signals.

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