US30 Intra-Week Analysis Feb 27th, 2024

We ended last week in a consolidation zone just after creating another All-Time-High slightly under 39300. We've had a slow start to this week regarding volume, but price has now broken below this demand zone, potentially making its way to test 38800. If we break below 38800 expect price to continue down to 38500 or even 38200. Our main bias on the other hand would be price tests 38800, while showing signs of rejection before returning to 39000.