US30 FALLING from resistance zone

In October last year, there was a collapse in prices, during which the pair reached its local minimum, pushed off the support and also quickly returned its positions.

It was stopped by the resistance line 30398, which appeared on the chart back in September 2020. Having touched it, the price stopped its sharp rise, but continued to move evenly in an upward trend. The second guiding trend line was the support line, also formed in November last year.

Also, a local resistance zone was formed at the points of the price maximum. It originates in December 2020. At the end of last year, the price was able to break through this zone, rose to the resistance line of 30,848 and immediately collapsed to support.

Then it bounced off it and returned to the 30426 zone again. Where the price is now. Despite the fact that last time the price managed to break through the zone, now I expect it to start falling and from the resistance zone it will come to the support line at 29960. This will be our target.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻