US30 Be Careful! I just took another peek at the Hourly that is in Bullish (directional) Market Bias.
If there is a candle close on the Swing High of 47,579, then more moves to the upside while reinforcing the Bullish Market Bias that encourages the bulls to keep rising. If this doesn't happen, then back down toward the new S&R Zone that begins at 47,452.
But if the Swing High is breached with a candle close past 47,579, then the bulls can head towards 47,700.
*Side Note: There are 4 layers of Support Areas that can give the bears a hard time to drop down: the new S&R Zone that begins at 47,452; Gap Up that can be filled only with a candle close past 47,224 (and not with a wick); Swing Low of 47,370; and another S&R Zone within the Gap Up that begins at 47,286. We'll see if the bears can break through all this. If not, then back up again.
Also, this is a reminder that a very BIG move has yet to show up, based on the Double Inside Day on the 4-Hour timeframe.
US30 A Double Inside Day just showed up on the Hourly, so a BIG move is coming, either to the upside/downside. It can happen within this session or in the After Hours.
US30 Just Peeking! I'm back in the desert after leaving the "Land of 10,000 Lakes", way too early this morning. This is just a quickie analysis because I'm still sleepy from getting on a plane before 6 a.m.
What a Big Beautiful Gap! Called a Rising Window in Japanese Candlestick Analysis. It won't get filled until there's a candle close past 47,297 (and not from a wick crossing through that price). For now, its strong forces of Support will keep the candles moving above it as long as its not filled.
Be careful! There's not only a tall Gap Up, but also a S&R Zone above it on the 4-Hour that is in Bullish (directional) Market Bias. So we have two levels of Support from the Gap Up and Zone. The bulls can go up again to rise above above both.
A giant M-shaped pattern is forming.
Also, a Double Inside Day appeared, so a very BIG move is coming, anytime within the next 24 - 48 hours. It can be to the upside or the downside.
*Side Note: The Bullish Trendline (in green dotted line) is nearby, so if the candles consolidate by moving the right of the trendline like a Congo Dance, the market bias would flip from bullish to bearish with the bears potentially filling in the Gap Up properly to drop down a lot more.
US30 Price seems to be caught on temporary support level, overall structure is still bullish, price is also being resisted as well, and it's against an upward trend line, so a breakout is definitely developing...
US30 Be Careful! I just took another peek at the Hourly that is in Bullish (directional) Market Bias.
