US30 pressure continues. Could the short-term run be over?

July 12, 2022
by Joseph Jeffriess, Market Analyst

Hello, and thanks for stopping by. Our US30 market update video is just below the US30 d1 chart.

In today’s report, we break down the US30 on an overall longer-term view and the current short-term view. Overall the trend remains down, and we are watching to see if the short term can complete the current pattern of trend and maintain a normal trend with a new LL. Sellers are in control on the short term but they have a bit to do to confirm that.

On the short-term, sellers continue to hold sway with a break of yesterday’s low in today’s out-of-hours session. We’re seeing two keys moving forward. 1, sellers break 30,500 demand and set off back to 29,683 low. If demand holds and we see a new move above 31,500 resistance, we will jump off the seller train and look at the possibility that the uptrend from the 20th of June has further to run.

Good trading and we hope you enjoy your day.

US30 D1 Chart

US30 Update Video (powered by TradingView)

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