The Dow Jones is testing a key supply zone near 41,700 after a strong bullish rally. But with multiple U.S. economic events on deck, this could be a make-or-break moment for US30.
1H Technical Breakdown:
1. Major Supply Zone (Resistance):
41,119 – 41,800 zone is a major supply cluster identified by LuxAlgo’s Visible Range.
Price is consolidating right at the top – signs of distribution may be forming.
2. Key Support Levels to Watch:
39,274: If the price rejects and breaks below this, a medium-term reversal could start.
37,484: High volume demand area and previous macro support – this would be the key bounce zone in case of sharp correction.
3. Bullish or Bearish?
Bullish case: Break and hold above 41,800 could trigger a squeeze toward all-time highs.
Bearish case: If the index fails to clear this supply zone and drops below 41,119, expect pullbacks to 39,274 and potentially 37,484.
4. Macro Catalyst:
Multiple U.S. economic events approaching (highlighted on chart: CPI, FOMC, etc.)
These will bring volatility – timing your entries around them is critical!
Possible Trade Setups:
Short Setup: Wait for rejection near 41,800 with a breakdown below 41,119
TP1: 39,274
TP2: 37,484
SL: Above 41,900
Long Setup: Breakout retest above 41,800 with bullish momentum
TP1: 42,500
SL: Below 41,200
---
Let’s debate:
Is this a bull trap or the beginning of another rally?
Comment with your thoughts and setups!
#US30 #DowJones #Indices #TechnicalAnalysis #MacroTrading #SupplyDemand #LuxAlgo #StockMarket
1H Technical Breakdown:
1. Major Supply Zone (Resistance):
41,119 – 41,800 zone is a major supply cluster identified by LuxAlgo’s Visible Range.
Price is consolidating right at the top – signs of distribution may be forming.
2. Key Support Levels to Watch:
39,274: If the price rejects and breaks below this, a medium-term reversal could start.
37,484: High volume demand area and previous macro support – this would be the key bounce zone in case of sharp correction.
3. Bullish or Bearish?
Bullish case: Break and hold above 41,800 could trigger a squeeze toward all-time highs.
Bearish case: If the index fails to clear this supply zone and drops below 41,119, expect pullbacks to 39,274 and potentially 37,484.
4. Macro Catalyst:
Multiple U.S. economic events approaching (highlighted on chart: CPI, FOMC, etc.)
These will bring volatility – timing your entries around them is critical!
Possible Trade Setups:
Short Setup: Wait for rejection near 41,800 with a breakdown below 41,119
TP1: 39,274
TP2: 37,484
SL: Above 41,900
Long Setup: Breakout retest above 41,800 with bullish momentum
TP1: 42,500
SL: Below 41,200
---
Let’s debate:
Is this a bull trap or the beginning of another rally?
Comment with your thoughts and setups!
#US30 #DowJones #Indices #TechnicalAnalysis #MacroTrading #SupplyDemand #LuxAlgo #StockMarket
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.