Technical Analysis Overview:
1. Daily Chart:
• The index is in a clear downtrend, with price action breaking below the moving average.
• MACD is deeply negative, with a bearish divergence and downward momentum.
• RSI at 37.28, indicating approaching oversold territory, but not yet reversing.
2. 15-Minute Chart:
• Strong downward momentum with sharp drop visible.
• MACD is heavily negative, confirming bearish momentum.
• RSI is at 32.71, indicating oversold conditions, but no clear sign of reversal yet.
3. 3-Minute Chart:
• Sharp sell-off followed by consolidation.
• MACD is negative but appears to be flattening, suggesting potential for a short-term bounce or continued consolidation before the next move.
• RSI at 44.38, showing mild recovery from previous lows but still below the midpoint (50).
Trade Idea:
• Position: Short (Sell)
• Entry Level: 41,250 (near minor resistance or after a weak bullish retracement)
• Stop Loss (SL): 41,800 (Above recent consolidation zone or resistance)
• Take Profit (TP): 40,400 (Previous support area with good potential for price to test)
US30
1. Daily Chart:
• The index is in a clear downtrend, with price action breaking below the moving average.
• MACD is deeply negative, with a bearish divergence and downward momentum.
• RSI at 37.28, indicating approaching oversold territory, but not yet reversing.
2. 15-Minute Chart:
• Strong downward momentum with sharp drop visible.
• MACD is heavily negative, confirming bearish momentum.
• RSI is at 32.71, indicating oversold conditions, but no clear sign of reversal yet.
3. 3-Minute Chart:
• Sharp sell-off followed by consolidation.
• MACD is negative but appears to be flattening, suggesting potential for a short-term bounce or continued consolidation before the next move.
• RSI at 44.38, showing mild recovery from previous lows but still below the midpoint (50).
Trade Idea:
• Position: Short (Sell)
• Entry Level: 41,250 (near minor resistance or after a weak bullish retracement)
• Stop Loss (SL): 41,800 (Above recent consolidation zone or resistance)
• Take Profit (TP): 40,400 (Previous support area with good potential for price to test)
US30 Trade closed: target reached
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.