Dow Jones is gearing up for a downwards swing but price won't go without a fight.
Previously we had a money distribution swing collecting and trapping buyers/sellers liquidity, price is simply toying with people that are holding on tight to sells now.
I would expect one last upside push into our area of interest before a significant collapse.
As we can see from this chart DOW has broken above its previous resistance level and has now entered an area where it plummeted before
There is an opportunity to go long here if price action indicates the move OR price will get rejected from this area and move lower.. there is also a chance price might range in this area for a short while but we will have to wait and see
US30 has hit its tipping point, we could see a big push to the upside and make a higher high like NASDAQ did OR we could see a trendline break and rejection
I do see some bullish divergence on a lower timeframe which could mean this pair shoots up but we will have to wait for price to tell us what it is going to do
As we can see from the chart previously once price broke the highlighted level it dumped but retraced very quickly. I anticipate once support is broken we are going to see an even bigger drop.
I have a few sell stops in just in case to catch the fall