Short
US30 Daily
Price was previously in a rising expanding channel, then a breakout to the downside occur, & current market structure is a downtrend where price is now forming lower lows & highs. Price has now made a new lower high, making a retest of the broken channel. This zone also aligns perfectly with the 50% fibonacci retracement & a strong zone of previous support now new resistance. Price has been stalling at this region all week now, & today a Doji indecision candlestick has formed. I am now anticipating for price to remain below this supply region, & form a new potential lower low towards a strong area of daily demand below.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.