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After a Two-Day Winning Streak, is the US30 now on the Ropes?

January 31, 2023
by Joseph Jeffriess, Market Analyst

US30 update.

Hi, and thanks for watching today’s update.

Do sellers have enough in the tank to push the price lower for a 2nd day in a row? After another failed rally yesterday, we saw a two-day winning streak broken on the US30 yesterday. This has caught our attention today as this is the 2nd time we have seen this in two sessions.

Could Friday and Monday’s LH price patterns suggest further downside in the short term? Sellers will have to beat 33,690 support to get their move going as this level continues to put up resistance. A break of this level could set up further downside, but a hold could suggest seller number might not be as firm as first thought.

Support levels are seen at;  33,690 – 33,630. Resistance is seen at 33,970 – 34,000. (if buyers can hold and resume the current upswing.)

US30 Analysis Video

Good trading.

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