Second Sell Recommendation for US30 Based on the Chart
Technical Analysis: Strong Resistance at 44,750 - 44,959
US30 is approaching a strong resistance zone where price previously faced rejection. This area coincides with the EMA 33 and a key supply zone. Fibonacci Retracement 0.618 - 0.786
The price is reaching the 0.618 – 0.786 Fibonacci retracement levels, which are often reversal zones. In the previous attempt, selling pressure increased significantly at this level. Price Structure
US30 has shown a previous downtrend and is now retracing towards a critical resistance level. If the price fails to break above 44,950, a further decline is highly likely. Declining Volume
During the price increase towards resistance, trading volume has been weakening. This indicates that buying momentum is fading, increasing the chances of a bearish reversal. Trading Strategy: Sell Entry Zone: Around 44,750 - 44,950 Stop Loss: 45,195 (above resistance zone) Take Profit Targets: Target 1: 44,200 (EMA 33 Low) Target 2: 43,780 - 43,770 (strong support zone) 🎯 Risk-to-Reward (R:R) Ratio Estimate: 1:3 – A favorable setup if price reacts as expected.
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