The US 30 index has concluded its price correction phase, rebounding strongly after testing the demand level of 40,094.0. This surge has established a bullish shift in the market structure, setting the stage for a continued uptrend.
In July, market buyers successfully broke through the resistance zone at 40,094.0 with the aid of three white soldiers. After reaching a peak of 41,412.0, the Hull Butterfly indicator signaled an overbought market condition, marked by a red dot at 2.0 on the indicator phase. A pullback ensued, retesting the previous resistance zone at 40,094.0.
The US 30 price reacted to the demand zone with an immediate bounce. This surge surpassed a minor swing high, indicating a shift in market structure and preparing for a continued uptrend. The Smoothed Heikin Ashi Candles currently support a bullish displacement in the market.
US 30 Short-Term Trend: Bullish
On the lower time frame, the trend has turned bullish. The price ascent has defied a bearish order block on the downtrend that led to the demand zone at 40,094.0. The market is currently pulling back to a bullish order block formed from the Change of Character (ChoCh) established on the lower time frame.
The Smoothed Heikin Ashi hue has turned green, even on the lower time frame, indicating a bullish reversal. The current shift in market structure suggests a promising outlook for price movement toward the 41,414.0 price zone. Traders can use forex signals to navigate this bullish trend and optimize their trading strategies.
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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