US30/Dow - Weekly Market Analysis
The Dow, as well as Nasdaq and S&P, are all about to reach their critical high for their current major retracement.
The dow has broken below a 14-month supply zone, a level that has kept the trend bullish, has obviously turned the current trend bearish.
However, the US stock market was resilient enough to perform a very deep retracement and the price has finally reached a critical level.
Based on US30/Dow, the price is about to complete its 2nd wave of retracement as it enters into the key supply zone between 24000 and 24500.
Nasdaq could reach 6800 and S&P could reach 2700.
The dow has broken below a 14-month supply zone, a level that has kept the trend bullish, has obviously turned the current trend bearish.
However, the US stock market was resilient enough to perform a very deep retracement and the price has finally reached a critical level.
Based on US30/Dow, the price is about to complete its 2nd wave of retracement as it enters into the key supply zone between 24000 and 24500.
Nasdaq could reach 6800 and S&P could reach 2700.
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