US 30 Signs of weakness
Good day traders,
The US 30 has provided a symmetrical triangle on the 30M that came out bearish and tested the support on the 33603.1 mark. The last bearish candle's spread after the symmetrical triangle breakout was consumed by the bullish candle that followed which showed strength from the bulls and a possible continuation to pass the current high of 33750.7 which might take place in the early days of the week. However when we look at the 4H chart we can see a resistance line near the 33400 mark from the bearish flag in the daily chart that show signs of weakness and a reversal to the downside. The overheating bullish trend on the 4H chart will most likely take a turn on the 33400 mark heading down to test the line of support near 32967.9 during the course of the week.
Share your thoughts in the comments box.
Happy trading.
The US 30 has provided a symmetrical triangle on the 30M that came out bearish and tested the support on the 33603.1 mark. The last bearish candle's spread after the symmetrical triangle breakout was consumed by the bullish candle that followed which showed strength from the bulls and a possible continuation to pass the current high of 33750.7 which might take place in the early days of the week. However when we look at the 4H chart we can see a resistance line near the 33400 mark from the bearish flag in the daily chart that show signs of weakness and a reversal to the downside. The overheating bullish trend on the 4H chart will most likely take a turn on the 33400 mark heading down to test the line of support near 32967.9 during the course of the week.
Share your thoughts in the comments box.
Happy trading.
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