Intra-Week US30 Analysis May 23rd 2023
For the past couple of weeks, us30 has been experiencing exhaustion after testing 34000 key level but failing to break above, due to the greed from stock market buyers still holding positions and trying to squeeze as much profit as possible. We have been playing within that 33000-33500 range and showing a lot of indecision despite the overall bias being bullish. This week what we'd like to see is still the same, HTF candles make closures below 33000 so we can validate sells to 33500. As you know we have to stay adaptive so we could potentially see a slight bullish move to test 33300 or 33500 before a bearish breakout otherwise we could get HTF closures above 33500 with potential further bullish movement.
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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.