US30 Price Action May Fall Towards $33,400 Mark

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From last Friday until yesterday (Monday), the US30 price action picked up some significant profits. However, at this point, the bears are already clawing out profits. And this could result in a significant price drop.

Major Price Levels:
Top Levels: $33,640, $33,700, $33,740
Floor Levels: $33,632, $33,600, $33,560

US30 Price Action May Fall Towards $33,400 Mark

The US30 Price Is Weakening Near a Strong Resistance Level

Price action in the US30 daily market had recently approached the resistance of $33,732 with moderate vigor. It seems price action was about breaking that resistance level, however, at this point, the bears have resumed and may cause serious setbacks to prices. The last price candle here is bearish. The RSI curves have performed a crossover in the oversold area, and its lines are still moving upward. Also, the MACD indicator lines are moving sideways near the equilibrium level. Although the technical indicators seem not to have picked up the signs yet, losses may grow significantly as trading continues.

US30 Price Action May Fall Towards $33,400 Mark

Price Action Further Portrays Weakness in US30 Market

On the 4-hour market, the bears seem to have made more significant progress. Here, prices are falling toward the MA line. In addition, the RSI lines are moving downward with moderate vigor, indicating the presence of downward forces. The MACD indicator also indicates that the bears may maintain their lead. This could be observed as the bars on the MACD now gradually grow short and pale in color. Consequently, traders can expect the US30 price to fall towards the price mark of $33,400.

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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.