US3OUSD weekly Analysis 18 Nov 23
For the US30USD (Dow Jones Industrial Average) weekly analysis for November 18, 2023, key observations from the recent analysis indicate:
Bearish Outlook: The US30 is forming patterns that suggest potential downward movement, such as a head-and-shoulders reversal. Analysts recommend monitoring for a "sell-on-rise" approach. Key resistance levels are around 42,767, and the take-profit zone could be near 42,175, with a stop-loss of around 43,368
TRADINGVIEW
TRADINGVIEW
.
Market Structure: The price tests resistance levels close to 61.8% of Fibonacci's retracement, suggesting a probable pullback if it fails to break these levels. Traders should wait for confirmation before executing positions
TRADINGVIEW
TRADINGVIEW
.
Bearish Outlook: The US30 is forming patterns that suggest potential downward movement, such as a head-and-shoulders reversal. Analysts recommend monitoring for a "sell-on-rise" approach. Key resistance levels are around 42,767, and the take-profit zone could be near 42,175, with a stop-loss of around 43,368
TRADINGVIEW
TRADINGVIEW
.
Market Structure: The price tests resistance levels close to 61.8% of Fibonacci's retracement, suggesting a probable pullback if it fails to break these levels. Traders should wait for confirmation before executing positions
TRADINGVIEW
TRADINGVIEW
.
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