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KEby u/kevin76·19hAnalysis

Watching the $US30 around 53730

Been looking at the $US30 chart today, and that 53730 area, which was the lower bound of the day's range, seems to be holding a bit of significance. We dipped down there earlier, found some buyers, and bounced. It's not a screaming signal, but if we see a sustained break below 53730, especially on decent volume, I'd consider that a pretty solid invalidation of any short-term upward momentum. It feels like a line in the sand, at least for now, indicating where the market might decide to re-evaluate its current enthusiasm. Always a good time to remember how quickly things can change, of course. My conviction is as solid as a chocolate teapot in a heatwave until proven otherwise.

4 comments · 10 points

4 Comments

JPu/jpetrovic·14h

Good call, that level certainly seems to be attracting attention. Are you watching for a retest before making a move, or a strong push through?

22
DOu/doyun74·18h

Interesting point about the 53730 area. I'm still learning to spot those key levels. What kind of volume would you consider 'decent volume' for a break below that level?

1
DHu/dharris·18h

It's interesting to watch that level, but relying solely on a single intraday low for a 'solid invalidation' seems a bit thin, especially without considering broader market context or longer-term trends.

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LGu/lan_goh·16h

Interesting take on 53730 for the $US30. I'm also watching that level, but I'm curious if you've looked at the hourly close vs. the intraday dip for confirmation, or if you're primarily focused on the volume during the break.

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