The US30 index ended yesterday's session with a solid gain. Looking at the D1 chart from a technical perspective, the price rebounded from the horizontal support zone around 45,160 points, which we mentioned in our recent analyses, and then shot up. Currently, just before the start of the cash session in the US, the price is approaching resistance at 45820 points, which results from earlier highs and is also the highest level in history. A break above this level could pave the way for a move towards 47,477 points, where the 127.2% external measurement of the last major downward correction falls. As for the correction scenario, it could materialize if the price falls below the aforementioned zone at 45,160 points.
US30 interval D1. Source: xStation
Looking at the lower time frame - H1, we observe a clear upward trend. The last three major corrections were exactly the same range (red rectangles), which, according to the Overbalance methodology, supports the scenario of further upward movement. However, if a correction were to occur, in addition to large geometries, two support levels of 45,475 points and 45,390 points should also be taken into account. The first results from the EMA100 average, and the second from the local 1:1 arrangement (green rectangles).
US30 H1 interval. Source: xStation
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