Weekly Time Frame Analysis
1. Market Structure:
• The Dow Jones Industrial Average (US30) is in an overall uptrend, making higher highs and higher lows.
• The recent price action shows a strong bullish momentum with the price approaching a significant resistance area.
2. Key Levels:
• Resistance: 41,500 (recent highs), 42,000 (psychological level)
• Support: 39,000 (previous swing low), 37,500 (strong support)
3. Indicators:
• RSI: Around 70, indicating overbought conditions which may suggest a potential pullback.
• Moving Averages: The price is trading above the 50-week and 200-week moving averages, confirming the uptrend.
Daily Time Frame Analysis
1. Market Structure:
• The daily chart confirms the uptrend with a recent breakout above 40,000.
• The price has encountered resistance around 41,250 and is currently retracing.
2. Key Levels:
• Resistance: 41,250 (recent high), 41,500 (next target)
• Support: 40,000 (immediate support), 39,000 (daily support aligning with weekly support)
3. Indicators:
• RSI: Around 65, showing bullish momentum but nearing overbought territory.
• Moving Averages: The price is well above the 50-day and 200-day moving averages, indicating strong bullish sentiment.
4-Hour Time Frame Analysis
1. Market Structure:
• The 4-hour chart shows a clear bullish structure with minor corrections.
• Recent price action indicates a pullback after a strong rally, testing the 40,500 support area.
2. Key Levels:
• Resistance: 41,000 (short-term resistance), 41,250 (key resistance)
• Support: 40,500 (immediate support), 40,000 (strong support)
3. Indicators:
• RSI: Around 50, suggesting neutral conditions with potential for either continuation or further pullback.
• Fair Value Gaps (FVG): Small gap observed around 40,700 - 40,900, potentially attracting buy orders.
1-Hour Time Frame Analysis
1. Market Structure:
• The 1-hour chart indicates a bullish trend with a current retracement phase.
• The price is testing the 40,500 support after failing to break above 41,250.
2. Key Levels:
• Resistance: 41,000 (immediate resistance), 41,250 (short-term target)
• Support: 40,500 (current support), 40,200 (further support)
3. Indicators:
• RSI: Around 40, indicating a potential buying opportunity as it approaches oversold conditions.
• Moving Averages: Price is testing the 50-hour moving average, which could act as dynamic support.
Summary:
• Long-Term Trend: Bullish
• Short-Term Trend: Bullish with a current pullback
• Key Levels to Watch:
• Resistance: 41,250, 41,500
• Support: 40,500, 40,000
Trading Plan:
• Long Positions: Consider buying at the current support levels around 40,500 with a target of 41,250, and a stop loss below 40,000.
• Short Positions: Look for shorting opportunities if the price fails to break above 41,250, targeting 40,000 with a stop loss above 41,500.
This analysis provides a comprehensive view of the US30 across multiple time frames, identifying key levels and potential trading opportunities.
1. Market Structure:
• The Dow Jones Industrial Average (US30) is in an overall uptrend, making higher highs and higher lows.
• The recent price action shows a strong bullish momentum with the price approaching a significant resistance area.
2. Key Levels:
• Resistance: 41,500 (recent highs), 42,000 (psychological level)
• Support: 39,000 (previous swing low), 37,500 (strong support)
3. Indicators:
• RSI: Around 70, indicating overbought conditions which may suggest a potential pullback.
• Moving Averages: The price is trading above the 50-week and 200-week moving averages, confirming the uptrend.
Daily Time Frame Analysis
1. Market Structure:
• The daily chart confirms the uptrend with a recent breakout above 40,000.
• The price has encountered resistance around 41,250 and is currently retracing.
2. Key Levels:
• Resistance: 41,250 (recent high), 41,500 (next target)
• Support: 40,000 (immediate support), 39,000 (daily support aligning with weekly support)
3. Indicators:
• RSI: Around 65, showing bullish momentum but nearing overbought territory.
• Moving Averages: The price is well above the 50-day and 200-day moving averages, indicating strong bullish sentiment.
4-Hour Time Frame Analysis
1. Market Structure:
• The 4-hour chart shows a clear bullish structure with minor corrections.
• Recent price action indicates a pullback after a strong rally, testing the 40,500 support area.
2. Key Levels:
• Resistance: 41,000 (short-term resistance), 41,250 (key resistance)
• Support: 40,500 (immediate support), 40,000 (strong support)
3. Indicators:
• RSI: Around 50, suggesting neutral conditions with potential for either continuation or further pullback.
• Fair Value Gaps (FVG): Small gap observed around 40,700 - 40,900, potentially attracting buy orders.
1-Hour Time Frame Analysis
1. Market Structure:
• The 1-hour chart indicates a bullish trend with a current retracement phase.
• The price is testing the 40,500 support after failing to break above 41,250.
2. Key Levels:
• Resistance: 41,000 (immediate resistance), 41,250 (short-term target)
• Support: 40,500 (current support), 40,200 (further support)
3. Indicators:
• RSI: Around 40, indicating a potential buying opportunity as it approaches oversold conditions.
• Moving Averages: Price is testing the 50-hour moving average, which could act as dynamic support.
Summary:
• Long-Term Trend: Bullish
• Short-Term Trend: Bullish with a current pullback
• Key Levels to Watch:
• Resistance: 41,250, 41,500
• Support: 40,500, 40,000
Trading Plan:
• Long Positions: Consider buying at the current support levels around 40,500 with a target of 41,250, and a stop loss below 40,000.
• Short Positions: Look for shorting opportunities if the price fails to break above 41,250, targeting 40,000 with a stop loss above 41,500.
This analysis provides a comprehensive view of the US30 across multiple time frames, identifying key levels and potential trading opportunities.
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.
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.