On December 9th, price action in the US30 market tried breaking the resistance of $34,134. However, this attempt failed, and since then bears took control and the price has been falling steeply till now.
Important price Levels:
Top Levels: $32,600, $32,650, $32,700
Floor Levels: $32,544, $32,450, $32,400
US30 Tears Down Support at $33,069
About three sessions ago, price action in the US30 daily market broke through the $33,069 level. At this point price now lies mid-way between $33,069 and $32,209. Furthermore, the last price candlestick still arrived bearish, pushing the price lower. Also, the lines of the MACD indicator are still diving, and the leading line is now just below the 0.00 level. Additionally, the curves of the Stochastic RSI are now oversold, and the leading line is now moving sideways at the 0.00 level. Summing up activities on technical indicators, the probability seems to favor Further price decline in the US30 market. Traders should brace for this.
US30 Price Movements Stays Surpassed and May Fall Lower
When price action seems to be preparing to take a new direction on the 4-hour market, selling pressure quickly regained control. The lines of the MACD had earlier moved towards each other for a bullish crossover. However, once selling pressure resumed, the earlier said move seems to have been aborted. Furthermore, the Stochastic RSI indicator too has given a bearish crossover shortly after a bullish one was portrayed. All the observed signs coming from trading indicators keep aligning with the possibility of more price decreases. Therefore, traders can predict that the US30 price may fall to $32200.
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