DJ30 is at 34100 appromitely which is a pshycological level of the pair and the market has the potential to continue moving down from this resistance. This solid resistance has been tapped three times by the market and has the potential to drop down to the support of 33550. 

The descending trendline merely touched the prices of candlesticks and can say we see a market rejection from the trendline. 

The is no retracement indication in this setup as the market is still in a far fetched range.

The EMA 50 is also range bound and market has the potential to break the EMA 50 and continue moving down from the level. 

RSI is at 55. We need to see the RSI wind down from the 50 level of neutralization in order for the confirmation of the down ward move of the pair. 

US30 is extremely volatile and move 100 points in mere minutes. Keep the stop losses always in place.

DJ30 rangebound stuck

Feb 08 2023