US30 Is Set for a Breakout
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US30 Is Set for a Breakout

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Azeez Mustapha

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Market Analysis – February 14

The US30 Market is currently in an accumulation phase, preparing for massive displacement. In 2022, multiple demand levels supported the push-up in the price for short periods. However, the rise in demand from level 28675 changed the market’s narrative.

US30 Key Levels

Demand Levels: 32751.0 31718.0, 28675.0
Supply Levels: 34209.0, 35551.0, 37007.0

US 30 is set for a breakout

US30 Long-term Trend: Bullish

The support levels failed continuously as the whales utilized the supply levels for a descent. The key level at 34202.0 formed a confluence point with the resistance trendline. In August of the previous year, the confluence region delivered the most energetic bearish displacement. The market crashed from a 34209.0 supply level to a 28675.0 demand level. The Stochastic swerved promptly from the overbought region to the oversold region.

The bulls imitated the same impulsive motion from 34202.0. The market launched voraciously from the support level in October, after the formation of a double bottom. In a single swing, the market delivered 34202.

US 30 is set for a breakout

US30 Short-term Trend: Bearish

The descending trendline has failed to resist bullish motion. A symmetrical triangle has formed above the trend line. US 30 is set for displacement. The breakout above the symmetrical triangle is expected to lead the price to 35551.0. The sellers utilize the opportunity to gain control of the market.

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