US30 Price Takes Off With Three White Soldiers
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US30 Price Takes Off With Three White Soldiers

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Azeez Mustapha

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Market Analysis – April 24

The US30 market concluded April with a notable occurrence of the double-top bearish reversal chart pattern. Concurrently, the Stochastic indicator signaled shorts as it reached an overbought condition.

Additionally, the crossover of the Simple Moving Average (Periods 9 and 21) above the daily candles substantiated the anticipation of a price downturn. This anticipation was validated as the price plummeted to 37238.0, aligning with multiple indicators.

US30 Key Levels

Demand Levels: 37238.0, 35976.0, 33850.0
Supply Levels: 39986.0, 40000.0, 50000.0

US 30 Price Takes Off With Three White Soldiers

Long-Term Trend for US30: Bullish

Following this descent, the price tested a robust bullish order block established in January, situated at 38238.0. Correspondingly, the Stochastic indicator shifted into the oversold region in tandem with the decline in the US30 price.

Presently, a notable resurgence in bullish momentum is observed from the aforementioned bullish order block. Furthermore, the Stochastic indicator has retreated from oversold conditions, indicating a prospective rise in price. Additionally, the appearance of three white soldiers on the daily chart further underscores the vigor of this bullish ascent.

US 30 Price Takes Off With Three White Soldiers

Short-Term Trend for US30: Bullish

Analysis of the four-hour chart reveals a conspicuous shift in market structure towards a bullish trajectory. The parallel channel leading to the bullish order block has been rendered invalid, signaling a bullish momentum.

The anticipation of a bullish swing towards 39986 is bolstered by the support of Moving Averages on the four-hour chart, garnering attention from the best forex signals providers.

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