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$US30 - Watching the 54200 retest
Been eyeing $US30 today and it's putting in a decent move, currently trading around 54085. The fascinating part for me is how it's testing the 54200 level, which has been a sticky point recently. If we see a solid rejection there and it starts to give up these gains, particularly if it dips back below 54000, then my current constructive view on a potential breakout gets a bit cloudy; I'd need to reassess if this is just another fakeout at resistance. This market loves to play mind games.
1 comments · 5 points
I'm seeing similar price action. That 54200 level has definitely acted as resistance lately, so a retest here will be telling. Are you looking for a clean break and hold above it, or a sharp rejection as confirmation of further downside?