US30 started its upward movement from the support level. The price is of 32050 at the support level. Once the market taps the support level once again, it will form a double bottom. From there, we will have enough margin for the market to continue moving up.

The descending trendline needs to be retested at the resistance level. We can setup the profit target at the retest of the trendline.

There is no retracement indication on this pair.

EMA 50 is still bullish and is blanketing the price action at the support level. Therefore, we can assess the market upward continuity. 

RSI is at 51. It needs to fall at the over sold region in order for the market to form a bullish divergence to continue moving up.

US30 double bottom at 32050

Mar 23 2023