US30 HTF Analysis Nov 21st 2023

Nov 21, 2023

It's been a while since I've done a US30 trades analysis & predictions but to get back into it we're gonna look from where I left off. Since August 2023 US30 has been in a steady downtrend till early October. This was a result of the FEDs not giving any clarity as to when rates would begin to decrease and other geo-political impacts. We then began to see some exhaustion on higher timeframes approaching previous lows of 33000. Feds then began holding rates steady, appealing to smart money and letting us know that rates may potentially decrease in the near future. Evidently, as a result of this and geo-political tensions between Israel and Palestine, since late October, we began to see buyers flooding into the market after a double-bottom rejection of key level 33000 on higher time frames. Price is now sitting just above key level 35000 and slightly under the previous highs of 35000. This indicates to us that we could begin to see this bull run slow down and potential sells but not before either a rejection of 35500 or a break below 35000. Otherwise, we can continue to look for buys to previous All-Time-Highs if we break and begin trading above 35500.