US30 Bearish
The technical analysis of US30 reveals that the index is currently encountering resistance at the level of 34195. The 200EMA initially acted as support for the price confirmed by a quick rejection to the upside.
Furthermore, the TDI also displays an overbought position, further strengthening the bearish sentiment in the market. A confirmation of this rejection at the resistance zone can be seen through the presence of either divergence or a sharkfin pattern on the TDI.
Based on this analysis, it is expected that the US30 will experience a decline from its current resistance zone at 34195 to the short-term target of 34000 and the medium-term target of 33900.
Furthermore, the TDI also displays an overbought position, further strengthening the bearish sentiment in the market. A confirmation of this rejection at the resistance zone can be seen through the presence of either divergence or a sharkfin pattern on the TDI.
Based on this analysis, it is expected that the US30 will experience a decline from its current resistance zone at 34195 to the short-term target of 34000 and the medium-term target of 33900.
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