US30 Index Analysis: Consolidation and Pullback within Key Price
it appears that the US30 index has been in a strong uptrend since early March 2023. Over the past few days, however, there has been some consolidation and a possible pullback in prices.
Looking at the range from 34160 to 33000, we can see that the market has been trading within this range for a few weeks. The recent consolidation and pullback has brought prices closer to the lower end of this range, with support seen around the 33300 level.
There are also a few important price levels to watch within this range. The first is the 33700 level, which represents a potential breakout level if prices can move above it. On the downside, the 33000 level is a major support level that has held multiple times in the past and could provide a bounce if tested again.
In terms of liquidity zones, there is a potential EQL around the 33300 level, where prices have bounced off of multiple times in the past. Additionally, there are a few FVGs below this level that could potentially be filled if prices continue to move lower.
Overall, while the recent consolidation and pullback may have some traders concerned, the US30 index remains in a strong uptrend and there are a few key levels to watch for potential breakout or bounce opportunities.
Looking at the range from 34160 to 33000, we can see that the market has been trading within this range for a few weeks. The recent consolidation and pullback has brought prices closer to the lower end of this range, with support seen around the 33300 level.
There are also a few important price levels to watch within this range. The first is the 33700 level, which represents a potential breakout level if prices can move above it. On the downside, the 33000 level is a major support level that has held multiple times in the past and could provide a bounce if tested again.
In terms of liquidity zones, there is a potential EQL around the 33300 level, where prices have bounced off of multiple times in the past. Additionally, there are a few FVGs below this level that could potentially be filled if prices continue to move lower.
Overall, while the recent consolidation and pullback may have some traders concerned, the US30 index remains in a strong uptrend and there are a few key levels to watch for potential breakout or bounce opportunities.