US30 – Rising Wedge on Thin Ice ! The Dow has been pushing higher for weeks, but the structure it’s building isn’t the most comfortable for bulls. Right now, price is sitting inside a rising wedge — a pattern that often looks strong until momentum fades and it breaks lower.
What’s happening now?
Buyers are still trying to defend near the top of the wedge, but every new push looks weaker than the last.
The candles are tightening, which usually signals a volatility squeeze. Once it snaps, the move tends to be quick.
Momentum hasn’t kept pace with price. That mismatch is an early warning sign.
Levels I’m watching
Target 1: 45900–46000. First line of support. If this gives way, short-term weakness will expand.
Target 2: 45200. A deeper pullback zone where profit-taking could slow the drop.
Final zone: 44200–44300. If the wedge fully unwinds, this is where I expect the sell-off to stretch, followed by a bounce attempt.
Short-term view:
For bulls, the only way to flip sentiment is a clean breakout above the wedge resistance. Until then, upside looks limited while the downside risk is gradually opening up. Chasing longs here carries more risk than reward. A confirmed break below support would tilt momentum decisively bearish. Trade safe!
