US 30 index buyers continue to dominate, as the index maintains a steady upward momentum. Throughout September, the price has surged beyond the previous month’s high, signaling a robust bullish movement. The index has broken through the key swing high of 41,402.0, highlighting an impressive rally.
US 30 index has enjoyed a remarkable year, achieving a 23.69% annual gain. After surpassing last month’s high at 41,400.0, the price briefly pulled back to find support, dipping into a volume imbalance zone from July. A bullish hammer candle emerged from this region, reigniting the upward trend.
The Stochastic indicator confirmed that the market was oversold after testing the volume imbalance, which led to a sharp price reversal. This reversal coincided with a test of the lower Bollinger Band, which acted as support, driving the aggressive bullish displacement.
US 30 Short-Term Trend: Bullish
On the 4-hour chart, the US 30 index shows a strong bullish market structure. While the price is currently moving sideways, signaling a potential pullback, the Stochastic indicator shows overbought conditions. Traders should watch for a breakout from this consolidation, in line with the market’s momentum, which could generate reliable forex signals.
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