US30 long

14 Agu

Here is why;
Weekly

• Price broke beneath 40,000 resistance level and price has not retested that level.
  
• We see that there is a lot of bullish momentum that has been picked up from 38,500 due to last week's candlestick closure
  
• Everything is pointing towards price going to test 40,000
  

Daily

• We see that price too a lot of buy orders from 38,500.
  
• Price broke and retested 39,300 region three times before finally heading northwards
  
• The next target is 40,000
  

4 hour

• Price today has closed above 39,720 and I expect for price to test the region before heading upwards.
  
• However, for now it is not clear what price will do, so it is best I just sit on my hands.