US30 Intra-Week Analysis Feb 28th 2022
Last week as we know Russia began it's invasion on Ukraine, which had a huge impact on U.S Stocks. We saw us30 drop around 1000 pips in just a couple hours after the news hit, then respected the lower trendline creating a consolidation zone at 32300. With investors flooding into the market to capitalize on this low price we saw a rejection of this price then completely correction of the bearish impact on the market. This week we can expect to see continued bullish momentum with lower volume as price makes its way back up to 34800. Expect a pullback and then retest of 34000, if price closes above we should see it clear the range to 34400.
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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.