🔴 US30 – Chop or Fakeout? 🔴
May 2, 2025 – 1H Chart Update
After the bullish breakout above 40,700 yesterday, US30 surged to 41,051, but we’re now seeing price stalling just under that level, forming a potential double top or distribution pattern ⚠️
📊 Technical Breakdown:
🧱 Price rejected at ~41,050 (previous swing high zone)
📉 Small pullback forming after strong bullish leg
📍 Key short-term support still at 40,700
🧠 Market could be consolidating post-FOMC run or prepping for a deeper pullback
🎯 What to Watch:
Bullish Continuation Setup:
✅ Needs a 1H candle close above 41,050
🎯 Target: 42,000 → 42,359 resistance zone
Bearish Scenario:
🔻 Break below 40,700 flips structure short
🎯 Downside targets: 40,260 → 39,775
Neutral Bias If:
Price consolidates between 40,700 – 41,050 = no clear trend → stay flat
May 2, 2025 – 1H Chart Update
After the bullish breakout above 40,700 yesterday, US30 surged to 41,051, but we’re now seeing price stalling just under that level, forming a potential double top or distribution pattern ⚠️
📊 Technical Breakdown:
🧱 Price rejected at ~41,050 (previous swing high zone)
📉 Small pullback forming after strong bullish leg
📍 Key short-term support still at 40,700
🧠 Market could be consolidating post-FOMC run or prepping for a deeper pullback
🎯 What to Watch:
Bullish Continuation Setup:
✅ Needs a 1H candle close above 41,050
🎯 Target: 42,000 → 42,359 resistance zone
Bearish Scenario:
🔻 Break below 40,700 flips structure short
🎯 Downside targets: 40,260 → 39,775
Neutral Bias If:
Price consolidates between 40,700 – 41,050 = no clear trend → stay flat
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.