US30 Intra-Week Analysis May 28th 2024

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For the past week, us30 has been on a steady downtrend after rejecting the 40000 level. Price began consolidating while ending the week at 39000, and has now broken below giving us reason to believe this bearish run could make its way to 38600. This week if price continues to trade below 39000 and we see Higher Time Frames candle closures below we can expect price to clear the range to 38600. Then either reversing, beginning to make its way back to ATHs, or potentially deeper corrections if price begins trading below.