US30 What's Up There? As the bulls rally, the Hourly shows many layers of Resistance for the bulls to potentially breach: getting to the top of the S&R Zone (at 42,281) and 6 Swing Highs. The furthest is at 42,561. Let's see how far this will go. It's like sweeping the attic and roof.
Each time the bulls breach a Swing High, then more moves to the upside because it reinforces the Bullish Market Bias that it just flipped to.
US30 On the Hourly that is in Bearish (directional) Market Bias, if the Pivot Low (in green arrow at 41,753) is the bottom of this descent, then a complex W-shaped pattern may be forming.
If it is a giant "W" in formation, then the 4th leg of it would be a very long bullish trend.
US30 in my humble opinion it's dropping all session. look on daily chart. The open and high of today are both lower than previous day close. the news today brings uncertainty. 2 min chart showing uninterested in crossing 41980. im done for the day. booked 400 million profit bought gold/sold US30
US30 For Swing Traders: Switching to the Daily that is in Bullish (directional) Market Bias, the bears are descending within a tall Inside Day pattern for a market pause. We'll see today if they even head for the pattern's low at 41,593. But if not, then towards the pattern's high at 42,277.
Ultimately, this is a retrace with more moves to the upside.
Conservative Take Profit Projections: 42,277 - High of Inside Day pattern for a Breakout 42,598 - Start of Multi-layered S&R Zone 42,819 - Swing High
US30 What's Up There?
