US30 Testing Major Demand Zone – Reversal Incoming?🔎 Market Overview:
The Dow Jones Industrial Average (US30) has dropped into a strong demand zone (41,200 - 41,350), which has historically acted as a major support area. Will buyers step in for a rebound, or will we see further decline?
🔹 Key Resistance Levels: 41,932 | 42,605
🔹 Current Price: 41,234
🔹 Key Support Levels: 41,347 (demand zone) | 41,200
📉 Recent Price Action:
1️⃣ Strong Sell-Off into Demand Zone:
After testing resistance at 41,932, US30 faced heavy selling pressure.
Price has now entered a high-volume support area (41,200 - 41,350).
2️⃣ Potential Reversal Setup:
If buyers hold this zone, we could see a bullish push back to 41,932 (first resistance).
A breakout above 41,932 could open the door for a move to 42,600+.
3️⃣ Breakdown Scenario:
If 41,200 breaks, expect further downside towards 40,800 - 40,500.
This would confirm a bearish continuation pattern.
📊 Trade Plan:
📍 Bullish Setup:
🔹 Look for bullish confirmation in the 41,200 - 41,350 zone.
🔹 A strong bounce could provide an entry targeting 41,932 and 42,600.
📍 Bearish Setup:
🔹 If price fails to hold 41,200, a short opportunity exists targeting 40,800 - 40,500.
🔹 Wait for a clean break and retest of 41,200 before shorting.
🔥 Will US30 bounce back from this demand zone, or will we see further drops? Comment your thoughts below! 👇
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