US30 has been in a sell-off in the last week or so. This is in line with the rest of the risk-on markets. From a technical stance price was forming a reversal pattern indicative of exhaustion and potential loss of buyers momentum. We have since broken out of the reversal pattern. If we are to receive a weekly close below the zone marked we could continue downward momentum into the next zone marked. Remember with such momentum follows a relief or profit-taking.
Trade safe
Sunny
Trade safe
Sunny
Note
Demand zone being respected .
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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.