US30 approaching prior resistance, potential for double top?

asked by u/arslan_mehmet · 15h · 2 answers

Been watching $US30 climb quite a bit lately, and it's now nudging up against that 52600-52650 area again. We saw some significant rejection there not too long ago, and while the current momentum is strong, I'm curious if we're setting up for a potential double top here.

The daily candle seems to be showing a bit of hesitation at these higher levels. If we see a clear break and sustained close above, say, 52700, then my double top idea is probably invalidated and we're looking at higher highs. But without that, I'm keeping an eye on whether sellers step in around here again.

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Top answers

  • u/xiu.xu· 1 pts· 13h

    While the 52600-52650 area is clearly a hurdle, the market does tend to retest previous levels. A "double top" often only becomes apparent in hindsight, after the breakdown. For now, it just looks like price at resistance.

  • u/tkim· 1 pts· 12h

    Good call on watching that level. The hesitation on the daily is definitely noticeable. Are you seeing similar resistance on other indices or just US30?

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