US30 Intra-Week Analysis Jan 16th 2024
Last week we got a second retest of 37800 All-Time-High creating a double top indicating a bearish reversal which we then saw ending the week and now testing 37200. Still playing the stock market greed and rate cuts narrative our bias is still bullish specifically if price breaks above 37600. Since we are currently at one of our targets from last week 37200 we can begin looking for buy entries if price action shows signs of a reversal. Otherwise with a break below 37200 we'll then look at how price reacts at 37000 being our second target for buy entries.
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