Dow Jones Index (US30) Technical Outlook Ahead of FED
https://www.tradingview.com/x/xf50jMxE/
US30 Index is currently trading on a key daily structure resistance.
The market is consolidating on 4H time frame,
forming a head and shoulders pattern.
If the price breaks and closes below its neckline (35330 level),
I will expect a bearish continuation, at least to a support line of an expanding wedge pattern.
Bearish breakout of the support of the wedge, will push the Index even lower.
Alternatively, a bullish breakout of the underlined blue structure on a daily will be a strong
bullish signal.
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US30 Index is currently trading on a key daily structure resistance.
The market is consolidating on 4H time frame,
forming a head and shoulders pattern.
If the price breaks and closes below its neckline (35330 level),
I will expect a bearish continuation, at least to a support line of an expanding wedge pattern.
Bearish breakout of the support of the wedge, will push the Index even lower.
Alternatively, a bullish breakout of the underlined blue structure on a daily will be a strong
bullish signal.
❤️Please, support my work with like, thank you!❤️
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