US30 is currently trading at $45729, trading in a range between $45750 and $45000. On the 4-hour timeframe, observing 4 touches upon the resistance being tested for the 5th time above the 21 and 50 SMA and well above the 200 SMA confirming the bullish trend is still intact. Price trading in the bullish region of the RSI, seemingly settling into a consolidation phase. Seems the 4 hour timeframe is having its 21/50 SMA region tested but is choppy due to consolidation. On the 1-hour timeframe, price is trading bullish with price action structure and a bullish support trendline with multiple touches. Price is trading above the 21/50 region however it has been tested multiple times before a move to the upside, price currently in the 45-55 region of the RSI indicating a potential push to the upside which may indicate a break above the resistance of $45750 soon. Currently observing the Asian high at $45617 for potential long entry
US30 So... I took the liberty to extend my triangle out to consider the prior consolidating price action of these higher lows that have been forming along the diagonal part of the triangle. This picture should help you understand more what I was saying a couple hours ago.
After doing so: I must say WOW. Beautiful price action. Just wait till I show the VIX. Ha.. Theres only two ways it can go and I SALIVATE for moments like these lol. If you cant see it then idk. Squeeze on, I guess?
US30 There's so many sellers at this level. Touchy moment. More consolidation. Someone just has to come thru, whale-like, and just sweep their arm across the counter. Or offload a whole laundry basket's worth of stock.