US30: Broke of Rising Structure, Formation of Falling Structure
The US30 has proven to be taking a bearish stance throughout the week.
The current analysis is also linked directly with my previous analysis while the price is still climbing but unlikely to break a new high.
Initially, the price broke below the bottom of a rising channel last week which already shown an indication of a stop to a bullish structure.
However, the price continued to consolidate without any strong selling pressure.
But this week, the price has begun to break new day lows and also formed lower highs thus confirming a formation of a bearish structure.
Sell the US30 now and set a stop loss just above the previous high should be sufficient.
The current analysis is also linked directly with my previous analysis while the price is still climbing but unlikely to break a new high.
Initially, the price broke below the bottom of a rising channel last week which already shown an indication of a stop to a bullish structure.
However, the price continued to consolidate without any strong selling pressure.
But this week, the price has begun to break new day lows and also formed lower highs thus confirming a formation of a bearish structure.
Sell the US30 now and set a stop loss just above the previous high should be sufficient.
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