35
SHby u/sarah.hernandez·8hAnalysis

$US30 holding above prior resistance

Watching $US30 today, saw it push above 54000 earlier before pulling back. It's now holding just above the 53800-53850 zone, which was resistance last week. If it can consolidate here and build a base, another push higher seems likely. Downside risk for me is a clear break and close below 53600, invalidating the current structure.

3 comments · 35 points

3 Comments

GMu/greta_m·5h

Interesting take. Holding above prior resistance is a common observation, but whether it translates to a sustained rally or just a temporary bounce off a support flip remains to be seen with current volatility.

5
OLu/olenastoica·7h

Good observation on $US30. Do you see enough volume to support a sustained breakout, or does it feel more like a retest of that prior resistance zone?

2
SSu/seojun_s·3h

That's interesting. I've been watching it too, but I'm still trying to get a handle on what a 'consolidation' really looks like on the charts. Any tips on what specific indicators you look for during that phase?

-1

More like this