US30 Relies on the 32433.0 Demand Level to Keep the Market Afloat

US30 Analysis – February 28

US30 relies on the 32433.0 demand level to keep the price afloat. Since taking off from the 28800.0 support level in mid-October, the market has been high and flying. There was a display of consecutive bullish candles until the price reached the zone of influence of the 32433.0 key level. US30 bypassed the level and surged further to 34372.0. The market has since been capped at this level.

US30 Critical Levels

Supply Zone: 35380.0, 34372.0, 33301.0
Demand Zone: 32812.0, 32433.0, 31617.0

US30 Short-Term Trend: Bullish

The 32433.0 key level’s influence reaches up to 32812.0. It initially acted as a resistance to the upward flow of the market. However, it was converted to formidable support once the price rose above it. Now that the upward rise of US30 has been curtailed at 34372.0, bears are now acting on the market to push it downward, but the 32433.0 level, acting as support, has been a bulwark to keep the price afloat.
Currently, the market has once again been rejected at 34372.0, and the price has dropped back into the support zone. The Parabolic SAR (Stop and Reverse) dots can be observed alternating around the market. This is to show the ranging nature of the price as it is not allowed to rise beyond 34372.0, and yet it is kept afloat from dropping below the strong 32433.0 demand zone.

US30 Short-Term Trend: Bullish

The MACD (Moving Average Convergence Divergence) indicator shows that the buyers are relying on the 32433.0 demand level to maintain the price. The MACD lines had previously been above the zero line but have dipped suddenly below it. The histogram bars are growing downward to show the prevalence of the sellers. Nevertheless, it is expected that US30 will revive from the strong 32433.0 demand level to test the resistance level again.

You can purchase Lucky Block here.  Buy LBLOCK

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.