In this detailed market analysis provided by Brokerir, the US30 index has recently exhibited a strong bullish trend but is now showing signs of exhaustion, with price action suggesting a potential retracement. Utilizing technical indicators and key support/resistance levels, we anticipate a potential decline in price from the 44,600 level toward 44,378 and ultimately 44,182.
Market Structure & Price Action
• The price is currently trading at 44,585, showing initial signs of rejection from the 44,600 resistance zone.
• The market structure indicates a lower high formation, suggesting a weakening bullish trend.
• A break below 44,585 would confirm further downside pressure, targeting the next support zones.
Key Support & Resistance Levels
Level Type Expected Reaction
44,600 Resistance Price rejection & potential pullback
44,378 Support Short-term reaction, potential consolidation
44,182 Major Support Critical level, potential trend shift
If price breaches 44,378, the probability of reaching 44,182 increases significantly, given the lack of strong liquidity zones between these levels.
Technical Indicator Analysis
MACD (Moving Average Convergence Divergence)
• The MACD histogram is turning bearish, with decreasing momentum towards the zero line.
• The MACD line is crossing downward below the signal line, further confirming bearish sentiment.
• If this bearish divergence persists, price action is likely to follow with increasing sell pressure.
Volume & Liquidity Considerations
• Current trading volume is declining at resistance, indicating a lack of strong buying interest.
• If selling pressure intensifies, we could see an acceleration in downward movement once key levels are breached.
Conclusion & Trade Outlook
Given the technical factors at play:
• A confirmed break below 44,585 would signal further downside movement.
• The 44,378 level is expected to provide some short-term support; however, if price breaks below this zone, a retest of 44,182 becomes highly probable.
• The MACD trend shift supports this bearish outlook, reinforcing the expectation of further downside.
Brokerir will continue monitoring price action for confirmations before committing to a definitive bearish scenario. It is crucial to observe how the market reacts at key support levels to validate further movements.