US30 Continues Upward as Price Sets to Invalidate $39,140 Weak High

Azeez Mustapha

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US30 Analysis – June 18

US30 continues upward as the price sets to invalidate the $39,140 weak high. The Dow Jones Industrial Average’s chart demonstrates a bullish outlook. This bullish outlook is supported by technical indicators such as the 9-day SMA, MACD crossover, and a positive histogram, indicating short-term positive momentum.

US30 Key Levels
Resistance Levels: $40,100, $42,000
Support Levels: $38,020, $37,210
US30 Continues Upward as Price Sets to Invalidate $39,140 Weak HighUS30 Long-Term Trend: Bullish
Price action analysis reveals several key levels and patterns contributing to the bullish perspective. The index recently broke above a weak resistance level around $39,140, which has now become a support. The significant resistance level at $40,090 is within reach, with the current price around $39,110. The chart also shows a break of structure (BOS) near $40,020, indicating potential for further gains. Key support zones include the areas around $38,180 and $37,210, which have previously acted as bases for price reversals.

Projection-wise, the bullish trend suggests that the index is likely to test the resistance at $40,090 in the near term. If the price sustains above this level, it could aim for higher resistance around $42,000. Given the strong upward momentum and supportive indicators, a break above $40,090 could lead to a rally toward $42,000. However, should there be a pullback, the price may find support around $38,900 or lower at $38,180, providing opportunities for bullish entries on dips. Incorporating the best forex signals can further assist traders in identifying these key levels and making informed decisions.
US30 Continues Upward as Price Sets to Invalidate $39,140 Weak HighUS30 Short-Term Trend: Bullish
On the four-hour chart, US30 is exhibiting a bullish trend, with strong support at the $38,180 level. The 9-day SMA and MACD line are indicating positive momentum. A break above $39,140 could test resistance at $40,090, potentially leading to further gains.

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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