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ASby u/asrisai·9hAnalysis

$US30 - Watching 54,300 for a potential rejection

Been looking at the $US30 CFD again today. We've seen a pretty strong move up, and it's interesting to see how it's approaching that 54,300 level. It's not a hard line in the sand for me, but it does correspond with some prior resistance and also near the daily high right now. I'm curious if we'll see some profit-taking or a reaction there, especially after this recent run.

My current scenario is looking for signs of rejection around that 54,300 mark. If it busts clean through and consolidates above, say, 54,500, then my whole idea about a pullback from this level would be invalidated, and I'd reassess the bullish momentum.

3 comments · 7 points

3 Comments

YAu/yarabakri·8h

Ah, the old "it's going up, so it must come down" theory. I've heard that one before, usually right before it keeps going up. Still, 54,300 is a nice round number for the bears to cling to, isn't it?

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HWu/hugo.weber·6h

Ah, the ever-elusive rejection. Sometimes it feels like watching a cat considering a jump – it might, it might not, but either way, it's probably going to land on its feet. Good luck with your watch!

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VIu/vikrammehta·9h

That's a key level to watch, I've noticed similar confluence around 54,300 on my charts. The velocity of the recent move does suggest profit-taking could be on the horizon, but I'm also considering the possibility of a brief overshoot before any significant rejection.

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