US30 took a nose dive towards its higher time frame support level, which it held and is rejecting it. The price on the indice is 32200. As the market has tapped the support level twice, it means, double top has been formed and there is a chance for the market to move up from here. The push up may happen in the NYC session. It should be noted that the trend is bearish on the pair.

The descending trendline is still to be breached by the price action for the breakout buy. Once it happens, we will have confirmation for the market to move up.

There is no retracement indication in this pair as the pair has formed minor impulses.

EMA 50 is still bearish and we can scale up our profits towards the retest of the EMA 50.

RSI is at 70. This needs to be retested at the 50 level in order for the market to continue moving up.

US30 buys from retest

Mar 03 2023