US30 Bearish Lump Slows Down
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US30 Bearish Lump Slows Down

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Azeez Mustapha

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Market Analysis – April 16th

US30 bearish lump slows down. The US30 index has experienced a bearish lump that has slowed down its momentum. The sellers have been met with strong resistance from the buyers, preventing the market from breaching the significant level of 37590.000.

This level has acted as a stronghold for the buyers, creating a temporary hold-up in the market. It is crucial to monitor this level, as it could potentially determine the future direction of the index.

US30 Key Levels

Resistance Levels: 4000.000, 39451.000
Support Levels: 38386.000, 37595.000

US30 Bearish Lump Slows Down

US30 Long-Term Trend: Bullish

The start of this month witnessed a depreciation phase for the US30 index. The bears took control after exerting pressure at a significant level of 40000.000. This led to a downward spiral, with the sellers piercing through the market level of 39551.000.

Throughout this month, the sell traders have had an interesting flow, constantly testing the resilience of the buyers. However, the buyers have proven to be a major obstacle, preventing the price from breaking lower.

US30 Bearish Lump Slows Down

US30 Short-Term Trend: Bearish

Despite the bearish pressure, it is highly likely that the buyers will regain their confidence and fight back. The turning point came when the buyers successfully broke out at the significant level of 40000.000. Since then, there has been a decline in the momentum indicator, indicating a loss of bullish momentum.

However, the current rise in the momentum indicator suggests that this week could witness a resurgence of strength for the buyers. As of now, a crossover is yet to be seen in the RSI, which would confirm the resurgence of buyers’ confidence. It is important to closely monitor the RSI, as it can provide valuable insights into the sentiment of market participants.

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