US30 Intra-Week Analysis May 2nd 2023
Last week on us30, we got that expected pullback to 33200 key level failing to break below and immediately flipping bullish to end the week and month back at the 34000 area. 34000 is a key demand zone that has been visited every single April since 2021, causing this to be a very make or break area accompanied by all the economic data expected to be released this week. This week, if we get optimistic US data and higher inflation data we can expect the market to price in the need for tighter financial conditions causing us30 to flip bearish. Furthermore, we can then confirm sells if we see a break below 33200. Otherwise, if bad economic data is released and inflation is on the decline we could see price break above this key liquidity zone leading it to continue bullish to 34600.
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