Market Analysis – April 3rd
US30 slumps as buy strength weakens. Recent developments have shown a significant decline in buy strength, resulting in a slump in the US30 index. Over the past few weeks, the US30 index has faced significant challenges in breaching the 4000.000 significant level.
This marks the second time that buyers have failed to surpass this key level, indicating a lack of buying strength in the market. The sell traders, on the other hand, have managed to reach the 39170 significant level, exerting downward pressure on the market.
US30 Key Levels
Resistance Levels: $0.1700, $0.1500
Support Levels: $0.1390, $0.1160
US30 Long-Term Trend: Bullish
Several factors can be attributed to the weakening buy strength in the US30 index. Firstly, the market has experienced a prolonged bullish atmosphere throughout the last quarter of 2023 and into 2024. This prolonged period of bullish momentum may have exhausted the buyers. This led to a loss of momentum and a subsequent decline in buying strength.
Additionally, the Stochastic Oscillator momentum is currently oscillating around the overbought area. This indicates that the market is potentially overextended and ripe for a correction. Sellers are taking advantage of this situation by adding further pressure to pull the market down.
US30 Short-Term Trend: Bearish
Given the current market conditions, it is highly likely that the market will experience a pullback and retest the 38543.000 key level. If the selling attraction continues, the market may trade down to this price level. However, it is important to note that the long-term market strength remains bullish, despite the current dominance of sellers.
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.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.