Market Analysis- March 6th
US30 bullish pace drops. The US30 bulls have been facing a loss of morale as the price consolidates. Despite their attempts, they have been unable to push beyond the significant level of 39327.000. Below this level, the bulls have been struggling to gain momentum, resulting in a slow decline in the market over the past few days. Unlike the previous year, where there was a strong liquidity rally, the index price has not experienced a robust rally this year.
US30 Key Levels
Resistance Levels: 39327.000, 37989.000
Support Levels: 35909.000, 34790.000
US30 Long-Term Trend: Bullish
During the previous year, the buyers maintained a strong rally from the key level of 34230.000. However, the bulls encountered strong supply above the significant zone of 37109.000. Since then, buyers have slowly been pulling out, leading to a lack of upward momentum. Although they were able to push the price up to the key level of 39327.000, sustaining this level has proven to be challenging.
To overcome this hurdle, the buyers need to boost their morale and regain their confidence. They must gather strength to break through the resistance at the 39327.000 key level. One way traders can stay vigilant for potential runs is by utilizing forex signals. This provides valuable insights and helps identify potential trading opportunities.
US30 Short-Term Trend: Bullish
Analyzing the price oscillator, we can observe a decline, which explains the market’s slowdown. However, the bears have not been strong enough to push the price lower either. It is crucial for the buyers to regain their momentum and strengthen their position to achieve a breakthrough at the key level of 39327.000.
You can purchase Lucky Block – Guide, Tips & Insights | Learn 2 Trade here. Buy LBLOCK
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.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
