US30 Poised for a Bounce from Support
The
US30
has seen a recent pullback, touching down on a zone of strong support. Our charts show this retreat as a healthy retracement within an overall bullish context.
Trade Strategy:
Entry Point: We’re looking at the 0.75 Fibonacci level, around 38645.6, as our prime zone for entry. It’s not just a number; this level has historical significance, repeatedly showing its worth as a springboard.
Stop Loss: Just to play it safe, we’re placing our stop loss slightly below the support zone, around the 38500 area. It’s close enough to minimize potential loss but still gives room for the usual ebb and flow.
Profit Targets: On the northbound journey, our sights are set on the recent high of 39229.6 as our initial target. But, with strong momentum, we might even aim higher, reassessing as we go.
The MFI dipping below 50 alongside a bearish money flow could have rattled some, but for us, it's a possible indication that selling pressure might be waning, giving way to the bulls soon enough.
With these levels in mind, let's buckle up and wait for the market to confirm our analysis. Patience will be key, but the rewards could be well worth it.
US30
has seen a recent pullback, touching down on a zone of strong support. Our charts show this retreat as a healthy retracement within an overall bullish context. Trade Strategy:
Entry Point: We’re looking at the 0.75 Fibonacci level, around 38645.6, as our prime zone for entry. It’s not just a number; this level has historical significance, repeatedly showing its worth as a springboard.
Stop Loss: Just to play it safe, we’re placing our stop loss slightly below the support zone, around the 38500 area. It’s close enough to minimize potential loss but still gives room for the usual ebb and flow.
Profit Targets: On the northbound journey, our sights are set on the recent high of 39229.6 as our initial target. But, with strong momentum, we might even aim higher, reassessing as we go.
The MFI dipping below 50 alongside a bearish money flow could have rattled some, but for us, it's a possible indication that selling pressure might be waning, giving way to the bulls soon enough.
With these levels in mind, let's buckle up and wait for the market to confirm our analysis. Patience will be key, but the rewards could be well worth it.