Chart of the day - US30 (10.03.2021)

9:07 AM 10 March 2021

Taking a look at US30 from a technical point of view, we can see that the index has painted a local double top pattern, signalling that a large correction may be on the cards. Index is testing the neckline of the pattern and in case it breaks through, the next major support to watch can be found at 31,600 pts. This level is marked with the lower limit of the market geometry and 38.2% Fibonacci retracement. Breaking below this area could hint at short-term trend reversal.

US30 at M30 interval. Source: xStation5

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