US30 Buyers Strategize to Regain Ground
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US30 Buyers Strategize to Regain Ground

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Azeez Mustapha

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Market Analysis – Dec 5th

US30 buyers strategize to regain ground. After weeks of pressing forward, the buying strength in the US30 market has finally subsided. However, the bulls have maintained a steady composure, and there is potential for further upward movement.

US30 Market Zones

Resistance Zones: 36288.700, 35645.570
Support Zones: 34920.700, 32291.670

US30 Buyers Strategize to Regain Ground

US30 Long-Term Trend: Bullish

Since early November, the market has witnessed strong buying momentum. This has allowed buyers to surpass important zones and reach as high as 36,288.700. However, the buying pressure has slowed down, and sell traders are gradually asserting their presence.

On November 21st, buyers showed signs of weakening above the 34920.700 price zone. Despite a previous bullish expansion, buyers faced resistance, leading to a brief decline. However, the buyers managed to regain their strength and regain control of the market.

The Momentum indicator reflects a slight downturn in market sentiment as buyers seem to have lowered their guard. If buyers fail to sustain their momentum, there is a risk of sellers gaining confidence and pushing their luck. Nonetheless, the bulls remain determined to continue their upward push.

US30 Buyers Strategize to Regain Ground

US30 Short-Term Trend: Bullish

On the 4-hour chart, buyers continue to show interest in the market. However, the market behavior still demonstrates the influence of sellers. The buyers need more confidence and conviction to surpass the significant zone of 36288.700. But for now, the index price is currently stuck in accumulation as traders await a serious breakthrough. Price flow is likely to be in bullish favor again.

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