Hello Everyone,
So for today's analysis, we are looking at the us30 chart.
The current market trend has a bullish bias however, we are at a key level of support( trend line)and can expect the market to go either way.
Prices have already broken and re-entered above support twice. And again it has broken the support! If this remains broken in the next 1-2hrs from we can expect that the sellers are in control and look to short the market. Otherwise, we can still look for buying opportunities.
The key price in all of this is at 34769 where we have a bullish engulfing being formed.
For bearish pressure look at 34709 which is our key resistance level.
Key:
Red and Blue horizontal lines are major support and resistance
Orange horizontal line are minor support and resistance
Organge extended line are entry points / minor support and resistance
Note: By no means am I a financial advisor. Place your trades at your own risk. This is strictly for educational purposes.
So for today's analysis, we are looking at the us30 chart.
The current market trend has a bullish bias however, we are at a key level of support( trend line)and can expect the market to go either way.
Prices have already broken and re-entered above support twice. And again it has broken the support! If this remains broken in the next 1-2hrs from we can expect that the sellers are in control and look to short the market. Otherwise, we can still look for buying opportunities.
The key price in all of this is at 34769 where we have a bullish engulfing being formed.
For bearish pressure look at 34709 which is our key resistance level.
Key:
Red and Blue horizontal lines are major support and resistance
Orange horizontal line are minor support and resistance
Organge extended line are entry points / minor support and resistance
Note: By no means am I a financial advisor. Place your trades at your own risk. This is strictly for educational purposes.
Note
As you can see we closed above support looking for buying opsNote
Got 1 buying op on the lower TF. closed at 1000 points. Seller are taking controlNote
Note that the trend line did break on the 2h; watching to see if this will also happen on the 4h before entering shortNote
Clearly, the sellers took the day :).Hope yall saw the sause.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.