US30 Sellers Take the Stage as Bullish Momentum Fades
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US30 Sellers Take the Stage as Bullish Momentum Fades

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Azeez Mustapha

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Market Analysis- February 15th

US30 sellers take the stage as bullish momentum fades. The US30 index market has experienced a slowdown in recent weeks as sellers gradually gain control. While the market has seen some bullish momentum in the past, the sellers are now ready to stage a potential U-turn.

US30 Key Levels

Resistance Levels: 38973.020, 38069.80

Support Levels: 34873.000, 33831.570

US30 Sellers Take the Stage as Bullish Momentum Fades

US30 Long-Term Trend: Bullish

Over the past few weeks, the US30 market has witnessed a gradual slowdown as sellers start to take charge. The buyers had previously broken through and solidified their defense above the 38069.800 price level. However, in recent weeks, the buyers’ momentum has been losing steam, and they have struggled to make further breakthroughs. While the market is not yet clearly indicating a strong bearish reversal, the bears are starting to set up their positions.

The intentions of the bears in the US30 market are not entirely clear at this point. They could either be looking to initiate a pullback or trigger a strong reversal. The buyers have enjoyed a long run in the market for months, but their momentum has recently experienced another slowdown.

Last week, the buyers were unable to sustain trading beyond the significant level of 38973.020. The Parabolic (SAR Stop and Reverse) indicator is currently hinting at a reversal above the bearish candlestick. This indicates potential downside movement in the index price.

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US30 Short-Term Trend: Bearish

Looking at the daily chart, it is highly likely that we will see further downside movement in the US30 index price. The Money Flow Index (MFI) indicates that the bullish momentum is gradually waning out. This presents a small opportunity for sellers to drive the price lower this week. However, traders need to utilize the best forex signals available to make well-informed decisions in this market.

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