US30 Shows Bullish Potential After Key Support Level Holds

US30 Analysis – March 4

US30 demonstrates bullish potential after maintaining a critical support level. Indicators suggest a strong possibility of a bullish reversal. The 9-period Simple Moving Average (SMA) at $43,150 indicates that the market remains in a short-term downtrend; however, the price is currently rebounding from a demand zone. The Relative Strength Index (RSI) stands at 35.00, close to the oversold territory, signaling that selling pressure may be weakening, allowing buyers to step in. A bullish divergence between the RSI and price could further reinforce the case for an upward movement.

US30 Key Levels

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

US30 Long-Term Trend: Bullish

The market has responded to a significant Fair Value Gap (FVG) and Order Block (OB) within the $42,000 to $41,680 range. This suggests that institutional players may have accumulated positions in this area, potentially driving a rally. The price structure currently exhibits a series of lower highs and lower lows, but this pattern could soon shift if the price reclaims the supply zone near $43,150 and establishes it as support. A successful breakout above this level would further validate the bullish outlook.

The US30 is expected to rise, with $45,100 acting as the first major resistance level. If this level is surpassed, the market may target $47,000 and, eventually, $48,000. After testing the $43,150 zone, the price is likely to pull back slightly before forming a higher low and pushing higher. The bullish perspective remains intact as long as the market holds above the $41,700 support level.

US30 Short-Term Trend: Bullish

With the 9-period SMA at $42,620 acting as immediate resistance, the US30 is currently trading near a crucial support level at $42,160. The RSI at 39.80 indicates that the market is approaching oversold conditions, increasing the likelihood of a bullish reversal. A decisive breakout above $42,620 could signal a move toward the $45,100 resistance level. The bullish sentiment, aiming for higher levels in the coming sessions, remains valid as long as the price stays above $41,700. Additionally, traders may consider forex signals to capitalize on potential market movements.

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