OANDA:US30USD   US Wall St 30

The counter US30 falling in the resistance trend line from 26th January. The trend line has been tested more than twice at the price of 31138.1,30891.8 and 30818.4. Today the counter hit the trend line at the price 30818.4 and it started moving downwards. Therefore short is more preferable for this condition and the bearish trend may continue further. The curves of the stochastic indicators are at level 80 which gives additional support to the description. If the counter breaks the trend line then there may be a chance for a trend reversal.

The major levels for this counter is

R2 –31239
R1 –30974
PP –30571
S1 –30306
S2 –29903