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Weekly Analyses : Uptrend Continuations with bearish corrections18/08/24 - 23/08/24 Welcome to another weekly analyses idea. US30 is an historically bullish instrument defined by HLs and HHs. On the daily TF a HL was signalled on Aug 15 at 38,402 after which price has been bullish signalling a Daily LH as the biggest TF with a type of High. This Daily LH currently sits at the 78.6% retracment level which is often defined as a key correction zone. However, just because price is currently there does not guarantee that it will respect it. Here are a couple reasons which tells me the Daily LH will not respect the 78.6% retracement: 1. On the 4H TF, the previous week ended with a bullish engulfing candle which can be an indicator price will continue bullish at least for the next short term before any correction. 2. Bullish signs On the Daily TF - The Daily Candle on Friday Aug 16th closed with a long lower wick indicating rejection from a level of support. This rejection is usually an indicator that the next daily candle will also close bullish. - Once price resumes into its uptrend, it will recover the strong bearish candles incurred during the sell period. The strong bearish candle formed on Aug 1st will need to be recovered with bullish candles up to the opening of the daily bearish candle. Therefore, I expect price to continue bullish at least for the short term. Longterm objective: Ultimate TP - Daily HH at 41,222.2. Short term objective: Daily LH TP - 41,131.6 just above the 88.0% retracement zone. Once price gets to 41,131.6 above the 88.0% retracement zone I do expect some retracement on the 4H TF. Here is my reasoning why: On the 23H TF, I have drawn a bearish trend line in the colour red which represents the point at which price has previously rejected off the line. The first rejection occurred on July 17 signalling at 23H HH, then on July 30th signalling a 23H LH. Using this trajectory I expect the third rejection to occur on the line at 41,131.6. As for how far this rejection or correction will go... that remains to be seen. Don't hesitate to reach out to me with any questions about my analyses.
OANDA:US30USDLong
by jhannellefrancis
DJI Will Fall! Short! Take a look at our analysis for DJI. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The market is trading around a solid horizontal structure 40,668.09. The above observations make me that the market will inevitably achieve 40,100.63 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
DJ:DJIShort
by SignalProvider
1
DOW JONES INDEX│ US30 │ 19 – 23 August 2024- Daily timeframe From the last analysis, we have established that the daily timeframe swing structure is bullish and bore fruits this past week. Price is sitting in an internal supply zone; this may lead to a temporary pause, which will allow us to add to our positions. • Bullish bias - Four-hour timeframe Swing structure here is still bearish and we are sitting in a supply zone as well so both our higher timeframes may be facing some resistance. • Bearish bias - 15-minute timeframe Swing structure is bullish, internal structure is bullish. Although we are sitting supply on both higher timeframes there is no greenlight for short positions. We will look for long positions until this timeframe switches bearish to facilitate a pullback on the higher timeframes. • Bullish bias How do I come to a bias conclusion? I look at the swing structure; if it is bearish, I conclude a bearish bias ©Austin Palmer for FONOS Fx, 2024.
OANDA:US30USDLong
by Austin_Palmer
US30 SingalUS30 Analysis - Daily In this analysis, we are anticipating the formation of a Head and Shoulders pattern. Based on this pattern: Sell Entry Point: A sell signal has been triggered near the neckline and resistance area. If the neckline breaks downward, a significant bearish move is expected. Buy Entry Point: If the price bounces off the identified support area below and fails to break down, a buy signal will be activated. In this scenario, the market could move towards higher targets. Overall, we expect a continuation of the bearish move if the neckline is broken, but if not, a potential reversal to the upside is likely.
FX:US30Short
by aminsmithfx
2
US30 4H ( Downward Movement )Equity Futures Mixed, ETFs Lower Pre-Bell as Earnings Season Winds Down Technical Outlook: Bullish Scenario: For a bullish continuation, the price must stabilize above 40,650, targeting 40,780 as the next resistance level. Bearish Scenario: A sustained move below 40,470 will likely trigger a bearish trend, with potential declines towards 40,290 and 40,060. Key Levels: - Pivot Point: 40,470 - Resistance Levels: 40,650, 40,780, 40,975 - Support Levels: 40,270, 40,060, 39,790 Today's Expected Range: The price is expected to fluctuate between the support at 40,060 and the resistance at 40,650. Trend: Bearish below 40,470.
OANDA:US30USDShort
by SroshMayi
US30 ( TRADING BELOW RESISTANCE TRENDLINE ) ( 4H )US30 HELLO TRADERS Tendency , the price is under bearish pressure , until trading below resistance trendline . Turning Level: The price is currently trading below this level around 40,671 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected. Resistance Level (1): around 41,016 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016 , and stabilizes above it, it will likely attempt to reach resistance level (2) . Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718 . Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2). Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 39,606 . Channel Trend: the trading rate within the ascending channel. TARGET LEVEL : RESISTANCE LEVEL : 41,016 ,41,348 , 41,718. SUPPORT LEVEL : 40,208 , 39,932 , 39,606 . Time Frame : 4H
UShort
by ArinaKarayi
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BLACKBULL:US30Short
by Thief_Trader
9
US30: Bullish Channel Reversal at Key Resistance? My Analysis: The US30 is currently exhibiting a bullish bias, forming a rising channel since April 18th. Recently, the price tested the lower boundary of this channel around August 5th but failed to break down into a bearish trend, suggesting that the move was likely a correction. This correction appears to have been a temporary pullback, with the price now climbing back towards the upper boundary of the channel. Given the current structure, there's a possibility that this bullish trend is short-term. A key area to watch is the 0.786 Fibonacci retracement level, which could serve as a significant resistance point. Additionally, the RSI is indicating overbought conditions, suggesting that the bullish momentum may be losing steam. If the price reverses from the 0.786 level, it could signal the start of a bearish reversal. However, it's essential to wait for confirmation before taking a position. Keep an eye on key support and resistance levels as well as momentum indica tors to validate the next move.
BLACKBULL:US30Short
by ClearTradingMind