US30 (Technical and Geopolitical Weekly Analysis)

Technical and Geopolitical Analysis:

The previous weekly chart indicated a strong upward movement, but the market is now poised to react to geopolitical pressures, particularly the tensions between China and Taiwan, expected to intensify this week and continue into next month.

Technical Analysis:

• Bullish Scenario: If the price stabilizes above 38,700, it is likely to move between 38,700 and 40,050. Any sustained stability above 40,005 will signal a continuation of the bullish trend, potentially reaching 40,970. A retest at 40,005 could occur before the bullish trend resumes.
  
• Bearish Scenario: The bearish trend will be confirmed if the price closes below 38,700 on at least the daily chart, targeting 37,990. The next significant support level is 36,460, which is strong support for this year.
  
  Key Levels:
  
• Pivot Line: 38,700
  
• Resistance Prices: 39,500, 40,005, 40,970
  
• Support Prices: 38,300, 37,990, 36,460
  
  The expected trading range will be between the support at 37,990 and the resistance at 40,050.

Comment:

The price dropped and still running to get 38790 as we mentioned
any daily closing under 38790 means will drop to 38500
otherwise, stability above 38790 means will trade between 38790 and 39050