US30 - Market Overview

The price reached the resistance zone at 26000.00 level, and we have to try to understand further market movements. They can like these:

1. If the price can break this resistance zone, the market will be able to reach 26750.00 resistance where it was stopped and reversed two times in the past. MACD supports upward movement. DMI is bullish, but ADX line is still below 20 signal level. It tells us that buyers are not so strong even they get more and more power. Probably the market won't be able to move above the resistance.

2. The price bounces from the resistance and drops to the support zone formed by SMA50, the uptrend line, and 25500.00 support level. It will be possible to get a reversal signal from this zone which can be used for opening long positions with profit targets at 26000 and 26750 levels.

3. If the price drops below the support zone and moves below SMA200 and SMA100. It will be a signal confirming the bullish trend reversal and further downward movement to support at 24250 and 23500 levels.