US30 / Consolidation Continues Between Key Levels

Jul 16

Technical Analysis: US30

The price has reached the resistance level of 40420, as mentioned in the previous analysis, and has since dropped, consolidating between 40060 and 40420.

• Current Outlook:
  The US30 is expected to decline as long as it trades below 40420, targeting 40060. A break below 40060 would suggest a continuation of the bearish trend.
  
  
• Bullish Scenario:
  For a bullish trend to be confirmed, the price needs to stabilize above 40420, with confirmation coming from a 4-hour candle closing above this level.
  
  
• Bearish Scenario:
  As long as the price trades below the resistance line at 40420, it is likely to test 40060. A break below 40060 would indicate a downtrend towards 39790.
  
  
• Key Levels:
  - Pivot Line: 40220
  - Resistance Levels: 40420, 40620, 40940
  - Support Levels: 40080, 39880, 39600
  
  
• Today's Expected Range:
  The price is anticipated to fluctuate between the support at 40060 and the resistance at 40420.
  
  Note:
  Today's earnings reports, particularly from UNH, BAC , and MS , are expected to impact the indices market.
  
  previous idea:
  
  

Jul 16

Trade closed: target reached

#US30
Update

Moving well + 600 pip ✅

The price pushed up strongly and still running to get the last target which is 40940
So the price should break to get a new ATH,
The movement will be between 40940 and 40420

Timeframe 4h
Current price 40890