#US30 1HFor the US30 on the 1-hour chart, a bearish engulfing pattern has formed, signaling potential selling pressure. This candlestick pattern occurs when a large red (bearish) candle completely engulfs the previous smaller green (bullish) candle, indicating a shift from buying to selling momentum. It suggests that sellers have taken control, and the market may see a further downward move.
Forecast: Sell
Given the engulfing pattern, the expectation is for a bearish continuation, with potential downside targets as the selling pressure builds. Traders may look for confirmation through additional indicators or price action before entering sell positions.