US30/ Bearish Momentum with Potential for Bullish Correction
Technical Analysis:
The price experienced a significant decline of approximately 3.9% over the past week, as previously highlighted.
Currently, a potential retest of the 20550 or 20660 levels is anticipated. Sustained stability below these levels would reinforce the bearish trend, paving the way for a decline toward 20330, with a further drop to 20130 if this level is breached.
On the other hand, if the price stabilizes above 20660, confirmed by a 1-hour or 4-hour candle close, it would signal a shift to a bullish trend, targeting a move toward 20860.
Key Levels:
Pivot Point: 43350
Resistance Levels: 43490, 43750, 43900
Support Levels: 43210, 42970, 42770
Trend Outlook:
Bearish Under 43350
Bullish Above 43490
Previous Idea:
The price experienced a significant decline of approximately 3.9% over the past week, as previously highlighted.
Currently, a potential retest of the 20550 or 20660 levels is anticipated. Sustained stability below these levels would reinforce the bearish trend, paving the way for a decline toward 20330, with a further drop to 20130 if this level is breached.
On the other hand, if the price stabilizes above 20660, confirmed by a 1-hour or 4-hour candle close, it would signal a shift to a bullish trend, targeting a move toward 20860.
Key Levels:
Pivot Point: 43350
Resistance Levels: 43490, 43750, 43900
Support Levels: 43210, 42970, 42770
Trend Outlook:
Bearish Under 43350
Bullish Above 43490
Previous Idea:
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~6 analyses per day. With a clear entry point
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SM World and Economy News 24/7
Urgent News ⚡️:
t.me/SM_News_24h
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