US30 Shows Bearish Reversal Amid Key Resistance Levels

US30 Analysis – February 4

The US30 market is experiencing a bearish reversal as it approaches key resistance levels and indicators. The Dow Jones Industrial Average is currently exhibiting signs of bearish momentum, as highlighted by technical indicators. The 9-period Simple Moving Average (SMA) is positioned around $44,650, acting as dynamic resistance, with the price now trading below it. This indicates a shift in the short-term trend. Additionally, the Relative Strength Index (RSI) has retreated from overbought conditions and is currently at approximately 58, signaling a weakening bullish trend. If the RSI continues to decline, it could confirm increased selling pressure in the market.

US30 Key Levels

Resistance Levels: $45,100, $47,000, $48,000
Support Levels: $41,700, $40,000, $38,400

US30 Long-Term Trend: Bearish

The market recently tested a crucial resistance level near $45,100, aligning with an order block zone. The rejection from this area indicates strong supply, leading to the current downturn. A bearish engulfing candlestick pattern has emerged at this level, reinforcing the bearish outlook. The price is currently around $44,410, confirming that sellers have taken control following a failed breakout attempt.

Looking ahead, if the bearish momentum persists, the next significant support level is around $42,000. Continued selling pressure could push the price lower to $40,000 or even $38,400 in an extreme bearish scenario. However, if buyers step in near $42,000, a reversal to the upside could occur.

US30 Short-Term Trend: Bearish

US30 is displaying bearish momentum after rejecting the key resistance zone around $45,100. The price has dropped below the 9-period Simple Moving Average (SMA) at approximately $44,250, indicating short-term weakness. The Relative Strength Index (RSI) is currently around 46, suggesting growing bearish pressure and the potential for further downside. If the decline continues, the next retracement level could be around $41,850. Traders looking for forex signals may also find parallels in broader market trends.

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