-INTRODUCTION-
Last Friday, US30 has reached a new low at the $30650 level. As we forecasted in our previous US30 analysis, the price broke out from its bearish flag channel during the last US session. This indicates that the bearish trend is still very valid and we will continue to look for sell opportunities after a retracement.
-TRADING PLAN-
The price has retraced and is currently retesting the resistance level of $31600. This is where the previous breakout has occurred. In the chart, we can also see that today's market opening has created a gap at the $31300 level. If the price breaks down from the current retracement uptrend channel, then we expect the price to reach $31300 level first to fill the gap. However, if the price breaks up the $31600 resistance level first, then the price could reach to retest the $31900 level.
US30 currently has an unfilled gap and also a new lower low price level which has not been retested. Therefore, there’s a very high probability for the price to arrive at those two levels. Now, we just need to focus on the price action to determine the next sell entry price.
US session today should provide a clear path.
Check out our recent US indices trading idea below :)
Last Friday, US30 has reached a new low at the $30650 level. As we forecasted in our previous US30 analysis, the price broke out from its bearish flag channel during the last US session. This indicates that the bearish trend is still very valid and we will continue to look for sell opportunities after a retracement.
-TRADING PLAN-
The price has retraced and is currently retesting the resistance level of $31600. This is where the previous breakout has occurred. In the chart, we can also see that today's market opening has created a gap at the $31300 level. If the price breaks down from the current retracement uptrend channel, then we expect the price to reach $31300 level first to fill the gap. However, if the price breaks up the $31600 resistance level first, then the price could reach to retest the $31900 level.
US30 currently has an unfilled gap and also a new lower low price level which has not been retested. Therefore, there’s a very high probability for the price to arrive at those two levels. Now, we just need to focus on the price action to determine the next sell entry price.
US session today should provide a clear path.
Check out our recent US indices trading idea below :)
