US30 1H TIME FRAME
A close look at the Dow Jones US30 index, as per the technical analysis on a 1-hour time frame, reveals that the index is currently following a descending triangle pattern and is now in a retest phase.
If the levels of 33100 to 33030 are broken, we are gradually heading towards 31820-31740. However, if the index decides to retest the trend for the second time and breaks it, I predict it reaching 35500 in the medium to long term. This is provided it breaks 34000-34260 and settles approximately at these levels with two 4-hour candles or daily.
The current resistances are 33540, 33560 and 33730, 33780.
The current chaos in the markets is leading us to a critical stage. Markets, in general, are in danger due to the raising of the debt ceiling and the American economic situation. Therefore, please exercise caution.
If the levels of 33100 to 33030 are broken, we are gradually heading towards 31820-31740. However, if the index decides to retest the trend for the second time and breaks it, I predict it reaching 35500 in the medium to long term. This is provided it breaks 34000-34260 and settles approximately at these levels with two 4-hour candles or daily.
The current resistances are 33540, 33560 and 33730, 33780.
The current chaos in the markets is leading us to a critical stage. Markets, in general, are in danger due to the raising of the debt ceiling and the American economic situation. Therefore, please exercise caution.
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