Market Analysis – December 12th
US30 bullish run remains strong. The market has been experiencing a consistent appreciation in value as buyers refuse to give up their pursuit. Currently, the Dow Jones price reflects the determination of buyers to push the market further. The bulls successfully broke through the all-time high for the year at the 36000.000 price zone. Even after the breakout, buyers have shown resilience in their pursuit.
US30 Price Zones
Resistance Zones:36000.000, 35645.000
Support Zones: 33862.000, 32321.000
US30 Long-Term Trend: Bullish
In the previous quarter, sellers managed to manipulate the market into a bearish tendency. They succeeded in pushing the index market into a descending channel that brought the price down to the key zone of 32322.000. However, in late October, buyers started to approach the market. However, since then, there has been a continuous flow of bullish liquidity with high amplitude.
Buyers were able to sustain the bullish trend beyond the 36000.000 key level earlier this month, followed by a retest in the market. After the pullback at the 36000.000 key points, the buyers have now refueled with the hope of pushing further. The uptrend market is still positioned to break through new key levels.
The Moving Average crossing of the 9-day and 21-day indicators continues to show a bullish position. This indicates the strength of the current trend. Additionally, there haven’t been any indications of a reversal to suggest a sell motion according to the Parabolic SAR (Stop and Reverse) indicator.
US30 Short-Term Trend: Bullish
In the shorter time frame, the buying pressure remains high, making it difficult for sellers to penetrate the market this week. The bullish sentiment therefore seems to be prevailing at the moment.
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