US30 Price Clusters are in a Tight Range

Azeez Mustapha

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Market Analysis- March 25th

US30 price clusters are in a tight range. In recent weeks, we have witnessed an ongoing consolidation with buyers and sellers locked in a tight range. The bulls have shown resilience in their attempts to breach the significant level of 39319.000 but have been unable to do so. This lack of buying vigor has caused the buyers to go silent, unable to push the market further. On the other hand, the sellers seem to be countering this scenario, creating a stalemate in the market.

US30 Key Zones

Resistance Zones: 39319.000, 38474.000
Support Zones: 38080.000, 3596.000

US30 Price Clusters are in a Tight Range

US30 Long-Term Trend: Bullish

The buyers, who have been on a long trend since November, appear to be exhausted. Since February of this year, there has been no movement beyond the key level of 39319.000. However, it is worth noting that the buyers have managed to build a firm structure from the key level of 32230.000 last year. The bullish strength has lasted for months, with the index price consistently reaching strong highs.

Despite the current struggle and consolidation, there are still opportunities for traders. Even in a tight-ranging market, forex signals can be of great help. Traders can utilize these signals to make informed decisions and navigate the market effectively. It is important to note that the buyers still hold strength, as evidenced by the Stochastic Oscillator.

US30 Price Clusters are in a Tight Range

US30 Short-Term Trend: Bullish

On the 4-hour chart, the bulls are hoping to make a significant breakthrough. However, it is important to highlight that this does not clearly indicate a breakout just yet. The buyers must first buy close to the 39319.000 level and trade beyond it to confirm a breakout.

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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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