Bearish Momentum in Play as Dow Jones Drops Below Pivot Zone
US30 has continued its downward movement as we mentioned in the previous idea, breaking below the pivot zone (43765- 43900) and confirming bearish momentum. The price is now trading near the 43760 level, with the next support zone at 43212.
Technical Outlook: Bearish Scenario: As long as the price remains below 43760, the downward pressure is likely to continue toward 43212 and 42770 as the next key support levels. Bullish Reversal: A recovery above 43900 would indicate a potential upside toward 44210 and 44400.
Market News Impact: Germany's election results indicate that the Christian Democrat Union is set to take over, with Friedrich Merz as the likely chancellor. This shift in leadership could influence EU-U.S. relations, especially in response to tariff threats from President Trump. U.S. stock futures are showing early signs of recovery, but market volatility is expected as investors react to potential economic policy changes in Germany.
⚠️ Directional Bias: As long as US30 remains below 43765, the bearish trend remains in control. However, geopolitical factors could increase market volatility, so stay alert. 📉🔥
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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.