US30 Bearish to Bullish Play for the Week So US30 hit a nice bullish Rally from the divergent bottom but we were not able to break through 35.400 even though we broke the 4hr daily yellow trendline to the upside.
We broke back into bearish territory Friday before close. So now I am looking at a weekly consolidation candle from last week giving me a projection for another possible consolidation week starting with a drop to the 42.450 area then I expect bulls to come In ultimately pushing price higher breaking through our 1st major resistance 34.400 into our 2nd major resistance 35.550, if we manage to break through both expect a bullish Rally into our next Major Resistance at 44.450. This week could close as another doji consolidation week if so Iโm holding bottom buy entry to swing exits.
Iโm looking for a higher low this week giving us a wick on this weekly candle, I have a sell limit placed (shown on chart) and will possibly put a buy limit at the target price.
FULL BEARISH SCENARIO: If we manage to break through 42.440 in a major way expect 42.250 next and a full break through that level would go to next major support zones at 41.900 & 41.650
May the pips be in our favor.