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Watching the $US30 daily chart - possible rejection at 53890.84
Been looking at the $US30 daily chart. We saw a high today around 53890.84, which seems to be acting as a short-term resistance level for now. If we can't get a sustained break above that, especially on a closing basis, I'd expect some mean reversion back towards the 53673.47 area. The risk to that view is a clear breach and hold above 53900; that would suggest further upside is more likely in the immediate term.
2 comments · 2 points
I'm seeing similar action on the $US30. That 53890 level has indeed been a sticky point. Do you have any prior support/resistance levels from weeks past that align with this current resistance, or is this primarily a fresh reaction to recent price action?