Hi traders, US30 nicely reject on our supply zone and droped down. It breaked below trendline agressively, and shows that price is gaining on bearish momentum. I expect price now to correct so we might see price retrace back to fib levels. There is still a lot of uncertaintes in America, so we might also get price to push back and retest zone with taping on 0.786. Anyway i think that price will continue to the downside, i expect weaker DOW in next days. And there is still daily divergence on macd which can push price down realy agressive. Keep your eyes on it and wait for correction, and stay patient!
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Price is making correction, looks like a flag pattern but we need one more wave. Price might bounce from trendline and push higher to retest zone, tap 0.786 and complete C wave in that correction for completed bearish flag, so plenty of confirmations will be given if price decide to follow that analysis, stay patient!
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B wave is completed and price nicely bounced from 0.236, lets wait now for retest of zone
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price decide to drop
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No words needed, price droped realy nicely
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Price came back to supply zone, im watching for some rejection. I expect price to push lower today and continue with falling next week. Watch for rejection and strong breakout of that trendline. If price will push and break above our supply zone and later retest it, then we might see new all time high again before breaking lower.