US30 possible price decrease

08.05.2018 / 13:34

Rating:

Index forecast / US 30 / Our expectations

The price is moving in flag formation, making lower tops and higher bottoms. As we can see on the chart, the levels of Fibonacci very accurately detecting the upward movements and where is there end, and afterwards the price is reversing it's movement. At the moment, the price reached main diagonal resistance of the Flag as well and SMA 50 and Fibo 38.2. Additionally the price reached Ichimoku cloud, but failed to enter in the clod and the price remained below it. Price action signal: pin bar at levels of diagonal resistance, SMA 50 and FiBo 38.2 Technical indicator: CCI(50) - above base level 0 , but the oscillator isn't pointing in north direction, end does not helping the bulls.

Alternative scenario: If the price breaks above the zone of resistance and break above the flag formation. the middle-term movement will most likely to end , as the trend continues to it's long-term movement - long.

SL: 24550

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US30 possible price decrease

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