US30 Intra-Week Analysis April 4th 2023

Beginning last week us30 has been on a steady uptrend after a consolidation period at previous lows and a break above key level 32500. Price has cleared the range as expected and is now trading at key level 33500. The decline of USD and the optimism from the previous FED speeches have caused this rally and almost driven price back to previous highs. This week, our bearish bias is still valid. If price begins to show signs of rejection and we see a closure below 33500 we can then look for sells. Otherwise, if price begins to trade above 33600 we could see price continue to 34200 or 34500, testing previous highs. Fundamental data this week will also play a factor in intra-week direction with potential short-lived moves, so It's important to remain adaptable as market conditions can change quickly.