US30 (Dow Jones) H1 Analysis: Descending Resistance Test
Looking at the H1 timeframe for the US30, we're seeing an interesting technical setup:
Market Structure:
Key Levels:
Technical Indicators:
Trading Considerations:
Market Structure:
- Price trading beneath a clear descending resistance line
- Consolidation pattern forming in recent sessions
- Moving averages tightly grouped, indicating potential breakout setup
- Recent lower highs respecting the descending trendline
Key Levels:
- Major Resistance: 44,767 (Descending Trendline)
- Current Price: ~44,518
- Support Level: 44,153
- Immediate Resistance: 44,592
Technical Indicators:
- Volume showing decreased activity in recent consolidation
- Momentum indicators showing neutral bias
- Price compressing between moving averages
- Lower timeframe structure indicates potential bearish continuation
Trading Considerations:
- Watch for reaction at descending trendline
- Volume increase needed for valid breakout
- Key support at 44,153 needs to hold for bullish scenario
- Potential for continuation of range-bound condition
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
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.
I hope you’ve had a great day and that your screens were green. 🌟
Happy Trading, and see you next time! 💹✨
Happy Trading, and see you next time! 💹✨
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.