U30 has been on a strong bull run, and has been inline with the fundamental releases from the previous weeks ! (Especially with the supply issue that a lot of US companies cant seem to figure out ....(except Amazon). :-)
We are still following this bullish trend until we are told otherwise from a technical stand point. Today (8/8/22), We've had a bullish run followed by a heavy reversal when it respected a point of control when the New York session went into full swing. I do believe we can see a deeper pullback especially since the dollar has some fundamentals lined up for the week.
This shift from the chart being technical to fundamental may require this analysis to change. As such, traders must be able to change their bias as the price action gives us more information. Please pay attention to my comment section since I will be commenting live on the validity of this analysis.
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We have a retest of 61.8%. Will continue to update this analysis.