Observing US30 on the weekly chart we can see the bigger picture. In the chart we can see that price has been in an overall downtrend since leaving the top level marked. Price is currently indecisive at our most recent lower low/supply zone. Although we have been bouncing around going in no particular direction, we still see signs of rejection to the upside.
Considering we are in an overall downtrend, currently rejecting to break the previous lower low, several major bearish rejections, a few pinbars, I will be holding a short position to the next major level.
Considering we are in an overall downtrend, currently rejecting to break the previous lower low, several major bearish rejections, a few pinbars, I will be holding a short position to the next major level.