US30 l DAILY l OUTLOOK
DAILY TAKEAWAYS:
US30 4 hourly candle (circled) is a bullish hammer candle which is a bullish trading pattern that may indicate that a stock has reached its bottom, and is positioned for trend reversal. Specifically, it indicates that sellers entered the market, pushing the price down, but were later outnumbered by buyers who drove the asset price up.
1. US30 has a strong reversal bullish hammer candle on the 4 hourly chart.
2. Bullish hammer candle bounced off of major zone 31200.
3. US30 needs to break downtrend trendline / break through support and resistance zone 32050 - 32450.
4. US30 needs to also break through descending channel to push bullish
US30 4 hourly candle (circled) is a bullish hammer candle which is a bullish trading pattern that may indicate that a stock has reached its bottom, and is positioned for trend reversal. Specifically, it indicates that sellers entered the market, pushing the price down, but were later outnumbered by buyers who drove the asset price up.
1. US30 has a strong reversal bullish hammer candle on the 4 hourly chart.
2. Bullish hammer candle bounced off of major zone 31200.
3. US30 needs to break downtrend trendline / break through support and resistance zone 32050 - 32450.
4. US30 needs to also break through descending channel to push bullish
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