US30 - Bearish Outlook After Reaching Key Resistance
Dow Jones Analysis: Bearish Outlook After Reaching Key Resistance
Based on the provided daily chart of the US30 (Dow Jones), the price has reached a significant resistance zone around the 41,306 level. This area, marked as the Yearly Resistance Zone, is critical and could trigger a bearish reversal.
Key Observations:
1. Resistance Zone: The price is currently facing a strong resistance at the 41,306 level, which is likely to induce selling pressure.
2. Support Zone: Below the current price, significant support zones are around 40,005 and 38,700, aligning with the Demand Zone.
3. Trend Lines: An ascending trend line indicates a longer-term upward trend, but the current resistance might lead to a short-term correction.
Bearish Scenario:
- Immediate Decline: If the price fails to break and sustain above the Yearly Resistance Zone, a pullback is expected.
- **Target Levels:** The initial target for the pullback is the support line around 40,005. A further decline could push the price towards the Demand Zone at 38,700.
- **Confirmation:** Bearish momentum will be confirmed if the price closes below the support at 40,005.
Key Levels:
- Resistance Levels: 41,306 (Yearly Resistance Zone)
- Support Levels: 40,005 (Support Line), 38,700 (Demand Zone)
**Today's Expected Range:**
The price is anticipated to fluctuate between the support at 40,005 and the resistance at 41,306, with a bearish inclination.
Preferred Bearish Direction:
1. Reversal Confirmation: Watch for the price to struggle and fail to break above 41,306 convincingly.
2. Short Positions: Consider initiating short positions if the price shows signs of reversal below 41,306.
3. Targets: Aim for initial targets at 40,005, with potential for further declines to 38,700.
4. Stop-Loss: Place stop-loss orders above the 41,306 resistance zone to manage risk.
Conclusion:
The Dow Jones is likely to experience a bearish reversal from the current resistance zone. Monitoring price action around 41,306 will be crucial. If the price fails to break above this level, a move towards the support at 40,005 and potentially down to 38,700 is expected. This bearish outlook will be invalidated if the price breaks and sustains above the 41,306 resistance level.
Based on the provided daily chart of the US30 (Dow Jones), the price has reached a significant resistance zone around the 41,306 level. This area, marked as the Yearly Resistance Zone, is critical and could trigger a bearish reversal.
Key Observations:
1. Resistance Zone: The price is currently facing a strong resistance at the 41,306 level, which is likely to induce selling pressure.
2. Support Zone: Below the current price, significant support zones are around 40,005 and 38,700, aligning with the Demand Zone.
3. Trend Lines: An ascending trend line indicates a longer-term upward trend, but the current resistance might lead to a short-term correction.
Bearish Scenario:
- Immediate Decline: If the price fails to break and sustain above the Yearly Resistance Zone, a pullback is expected.
- **Target Levels:** The initial target for the pullback is the support line around 40,005. A further decline could push the price towards the Demand Zone at 38,700.
- **Confirmation:** Bearish momentum will be confirmed if the price closes below the support at 40,005.
Key Levels:
- Resistance Levels: 41,306 (Yearly Resistance Zone)
- Support Levels: 40,005 (Support Line), 38,700 (Demand Zone)
**Today's Expected Range:**
The price is anticipated to fluctuate between the support at 40,005 and the resistance at 41,306, with a bearish inclination.
Preferred Bearish Direction:
1. Reversal Confirmation: Watch for the price to struggle and fail to break above 41,306 convincingly.
2. Short Positions: Consider initiating short positions if the price shows signs of reversal below 41,306.
3. Targets: Aim for initial targets at 40,005, with potential for further declines to 38,700.
4. Stop-Loss: Place stop-loss orders above the 41,306 resistance zone to manage risk.
Conclusion:
The Dow Jones is likely to experience a bearish reversal from the current resistance zone. Monitoring price action around 41,306 will be crucial. If the price fails to break above this level, a move towards the support at 40,005 and potentially down to 38,700 is expected. This bearish outlook will be invalidated if the price breaks and sustains above the 41,306 resistance level.
my free signals channel telegram
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
t.me/Srosh_signals
~6 analyses per day. With a clear entry point
more than 1000 pip per week —— Accuracy +88%
SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
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.