4-hr US30: Buyers Are Regaining Control
The Fed's pre-Christmas announcement caused a dramatic 3,000-point drop in the Dow Jones, with US30 forming a Double Bottom at 42,100—a classic reversal pattern. Over the past few days, the index has rebounded by 700 points, driven by oversold conditions that attracted buyers and strengthened upward momentum.
The price has broken above immediate resistance at the 23% Fibonacci retracement, signaling further bullish potential. With the USD losing momentum, we anticipate stocks will maintain their upward trend. We project this rise could reach 43,600, aligning with the significant 50% Fibonacci level.
This move presents a potential 800-point profit opportunity for buyers entering now, assuming bullish dominance continues. The current momentum and technical patterns support expectations for further growth in the US30 index.
The price has broken above immediate resistance at the 23% Fibonacci retracement, signaling further bullish potential. With the USD losing momentum, we anticipate stocks will maintain their upward trend. We project this rise could reach 43,600, aligning with the significant 50% Fibonacci level.
This move presents a potential 800-point profit opportunity for buyers entering now, assuming bullish dominance continues. The current momentum and technical patterns support expectations for further growth in the US30 index.
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