US Wall St 30 (Dow Jones) Analysis โ 4H Timeframe
๐ Overall Trend:
The index is in a clear downtrend after breaking strong support levels, which have now turned into resistance.
The price is currently in a corrective upward phase before likely continuing the downtrend.
๐ Key Levels:
๐ด Supply Zone (Potential Resistance):
43,150 - 43,290 (A strong resistance area where price may reverse downward).
๐ Demand Zone (Potential Support):
39,500 - 38,900 (A key support zone that may see a price reaction).
๐ Bullish Scenario (Corrective Move):
โ
The price is expected to continue rising toward the 43,150 - 43,290 zone before a potential rejection.
โ
If the price breaks above this zone and a 4-hour candle closes above it, further upside movement could follow.
๐ Bearish Scenario (Main Expectation):
โ
If the price reaches the 43,150 - 43,290 area and shows reversal signs such as rejection candles or reversal patterns, a decline may begin.
โ
The first downside target would be the 39,500 - 38,900 support zone.
โ
A break below this area could lead to further downside movement.
๐ฏ Conclusion: We will wait for the price to reach the identified supply zone and observe for reversal signals before entering sell trades targeting the support area.