US30 1H TIME FRAME

A close look at the Dow Jones US30 index, as per the technical analysis on a 1-hour time frame, reveals that the index is currently following a descending triangle pattern and is now in a retest phase.

If the levels of 33100 to 33030 are broken, we are gradually heading towards 31820-31740. However, if the index decides to retest the trend for the second time and breaks it, I predict it reaching 35500 in the medium to long term. This is provided it breaks 34000-34260 and settles approximately at these levels with two 4-hour candles or daily.

The current resistances are 33540, 33560 and 33730, 33780.

The current chaos in the markets is leading us to a critical stage. Markets, in general, are in danger due to the raising of the debt ceiling and the American economic situation. Therefore, please exercise caution.