Youngking22

US30 15MIN: Technical Analysis

Short
EIGHTCAP:US30   Dow Jones Industrial Average Index
The US30 has undergone two retests of the 38937.69 level before experiencing a rejection towards the Fibonacci level of 38791.60. Currently, my analysis suggests a potential retest of the 38937.69 high, forming what could be interpreted as a triple top pattern. Subsequently, I anticipate bearish market entry, leading to a break below the 38791.60 Fibonacci level and a subsequent decline to the 38601.69 daily low value. Following this, a bullish effort may ensue to retest the Fibonacci level before gaining momentum for a descent to the profit target level of 38371.99.

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