US 30 Witnesses a Low Volume of Transactions
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US 30 Witnesses a Low Volume of Transactions

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Azeez Mustapha

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Market Analysis – April 11

US 30 has witnessed a significant drop in the volume of its transactions since the 25th of October, 2022. US 30 has also witnessed long-term consolidation for a space of four months (November to February). The key level of 34381.0 remains unyielding giving way to a rise in the price.

US 30 Key Levels

Resistance Levels: 34831.0, 35551.0, 37007.0
Demand Levels: 32751.0, 31178.0, 30171.0

Us 30 Witnesses a Low Volume of Transactions

US 30 Long-Term Trend: Bullish

Until, November last year, the market displayed significant up-and-down trends. After the test of the supply level of 37007.0 and the indication of a bearish reversal of the MACD (Moving Average Convergence and Divergence), US 30 adopted a downward trend until mid-June. Significant pullbacks and short-term consolidation were features of the long-term downward trend. The next two months (17 June through 16 August) were ruled by the buyers. The end of September put an end to the downtrend that followed.

The last major trend witnessed on the US 30 market was the uptrend from 28675.0 to 34381.0, which was initiated after the MACD crossed to turn bullish. The parallel weave of the Moving Average lines showed the consolidation from November until February’s end.

Us 30 Witnesses a Low Volume of Transactions

US 30 Short-Term Trend: Bullish

The bulls seem not to give up as they are taking another strike toward the well-defended resistance level of 34381.0. A bullish order block resting at 32751.0 is expected to provide increased momentum to strike the resistance level of 34381.0

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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.

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