The market broke out of a strong resistance and is looking highly likely to go retest that zone before a further continuation to the down side .
Based on the 4-hour chart, the Bearish Rising Wedge pattern suggests a potential reversal of the uptrend on US30. The converging trend lines and decreasing volume indicate weakening buyer momentum. A breakout below the lower trendline could confirm the reversal, presenting a short-selling opportunity.
We are nearing the US30 elections which will cause a big drop on markets and us30 has given us a setup that may likely let us catch the move at its peak
We are continuing the wave by retetsing the previous high in order to make new higher waves and complete the wave cycle
We are in a clear uptrend andmarket is retracing before another heavy impulsive move to the upward side
We are in a clear uptrend andmarket is retracing before another heavy impulsive move to the upward side
We have two possible movements on us30 either we will have a correction back down to before an impulsive move to the upside or we will break the M15 trendline and retest it and have an impulsive move upward.
Our technical analysis suggests that US30 is due for a corrective move before resuming its bullish trend. We anticipate a pullback to the previous low, where we'll look to buy on the retest.
Our technical analysis suggests that US30 is due for a corrective move before resuming its bullish trend. We anticipate a pullback to the previous low, where we'll look to buy on the retest.