Bearish Trend Expected Below Key Resistance at 40420
Technical Analysis: US30
The price has reached the resistance level of 40420, as mentioned in the previous analysis, and has since dropped, consolidating between 40060 and 40420.
Current Outlook:
The US30 is expected to decline as long as it trades below 40420, targeting 40060. A break below 40060 would suggest a continuation of the bearish trend.
Bullish Scenario:
For a bullish trend to be confirmed, the price needs to stabilize above 40420, with confirmation coming from a 4-hour candle closing above this level.
Bearish Scenario:
As long as the price trades below the resistance line at 40420, it is likely to test 40060. A break below 40060 would indicate a downtrend towards 39790.
Key Levels:
- Pivot Line: 40420
- Resistance Levels: 40640, 40580, 41050
- Support Levels: 40080, 39880, 39600
Today's Expected Range:
The price is anticipated to fluctuate between the support at 40060 and the resistance at 40650.
Previous Idea:
The price has reached the resistance level of 40420, as mentioned in the previous analysis, and has since dropped, consolidating between 40060 and 40420.
Current Outlook:
The US30 is expected to decline as long as it trades below 40420, targeting 40060. A break below 40060 would suggest a continuation of the bearish trend.
Bullish Scenario:
For a bullish trend to be confirmed, the price needs to stabilize above 40420, with confirmation coming from a 4-hour candle closing above this level.
Bearish Scenario:
As long as the price trades below the resistance line at 40420, it is likely to test 40060. A break below 40060 would indicate a downtrend towards 39790.
Key Levels:
- Pivot Line: 40420
- Resistance Levels: 40640, 40580, 41050
- Support Levels: 40080, 39880, 39600
Today's Expected Range:
The price is anticipated to fluctuate between the support at 40060 and the resistance at 40650.
Previous Idea:
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