How far is US30 going to go lower?(1)

The US30 has been on a free fall for over a week now. As on the chart image, it is in a Downtrend Phase 1(DT P1) since it broke the structural level of 34284 on the daily timeframe. Its next level of further weakness is when it breaks the daily support level of 32583 as in the chart image. It will become a weekly DT P1 when it breaks the weekly support level of 31427.
We will wait for a trend change on the weekly before taking any short positions on the daily timeframe in correlation with the weekly timeframe. Furthermore,monthly timeframe has confirmed a compression high.

To understand our ideas and videos better,we highly recommend watching our following stream videos:

1.Trader Starter Pack 5 day video course
Look on our channel profile or at our signature section to access it
2.7 steps to achieve consistent trading performance
www.tradingview.com/streams/CYoTRc9HCd
3.7 steps for strategy construction
www.tradingview.com/streams/uVszSV1Eyv

Reference weekly image: