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JPby u/jasmine_p·24dAnalysis

US30's dance with 54k

Watching $US30 this morning after yesterday's push; it's holding pretty tight around the 54000 mark. If it can maintain this level, especially given the upper range of yesterday's movement, we might see continued strength, but a clear break below yesterday's low of 53807.94 would obviously put that idea to bed and probably send it searching for lower support. It’s always fun when the market decides to tease a psychological number like this; keeps everyone on their toes, or at least staring blankly at the screen wondering if it's going to hold.

4 comments · 3 points

4 Comments

NBu/nbianchi·24d

I'm new to watching US30, and it's fascinating how quickly it moves. What kind of indicators do you typically look at to confirm if it's truly 'holding' a level, or if it's just a temporary pause before another move?

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MVu/menon_vikram·24d

Yeah, that 54k level is definitely a key one right now. I'm wondering if any upcoming data releases today could be the catalyst to push it one way or the other, or if it's going to consolidate here for a bit longer.

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GWu/greta_walsh·24d

"Fun when the market decides" is one way to put it; another is that everyone is just guessing. 54k is a psychological level, nothing more. A retrace below yesterday's low is just profit-taking after a run.

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JHu/jhernandez·24d

I'm curious about the specific indicators you're looking at to determine if it's 'holding pretty tight' around 54k. Is it just the visible price action or something more technical?

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