US30 has been in a bearish trend since last month on all time frames. Especially on the daily where the market broke and retest the support turn resistance. The market on h4 is now ranging before the NFP news today which we forecast, might break towards the bearish side making another impulse bearish move. The short setup we will take is based on the previous wick of the bearish pinbar formed at the resistance level.

The ascending trendline has broken out for sells within a range, which gives us a confirmation signal for the bearish side. 

There is no current retracement indication in this setup.

EMA 50 might be retested at the level of the minor resistance where we can confluence the resistance with the retest.

RSI is at 43, which is the bearish region. Another retest at the neutralized level of 50 will have a confluence of multiple technical indications which will give us a solid confirmation for sells.

Forecasting a break downwards on US30

Jan 06 2023