This are just my analysis not signals!.
The blue ray line at the bottom is a support level that has 3 touches, including a bullish engulfing pattern on the weekly time frame and some continuation candlestick patterns on the daily time-frame this three confirmations tell me that US30 is officially reversing to the upside. The down trend channel has 3 touches on the support and resistance trend-lines and as we can see that the price broke the structure and consolidated for while also creating bullish flag.
The blue ray line at the bottom is a support level that has 3 touches, including a bullish engulfing pattern on the weekly time frame and some continuation candlestick patterns on the daily time-frame this three confirmations tell me that US30 is officially reversing to the upside. The down trend channel has 3 touches on the support and resistance trend-lines and as we can see that the price broke the structure and consolidated for while also creating bullish flag.
As we can see on the daily/weekly time frame that the price hit support level (bottom blue ray line) that has 3 touches and the overall trend is a down trend with 3 touches on the support and resistance trend-lines, whilst on the weekly time frame we can see that there is a bullish engulfing candlestick pattern. These two confirmations on their own tell that US30 is officially reversing. We can also see a strong rejection from the support level and then after there is a correction and another impulsive leg to the upside, this means it’s a perfect bullish flag. After the flag the price broke above the bigger structure and a very nice consolidation.
With all these confluences I’m certain US30 will rise in the next coming weeks. This analysis are based on price action with no any kind of indicator but if use can use the moving average with the length of 100 you see that it aligns perfectly with my analysis.
Please tell me what you think about my analysis and what’s your take on US30 in the next coming weeks, is going up or down? Thank you!