US30 Intra-Week Analysis June 6th 2023

6 Jun 2023

Last week on US30 we saw price continue respecting the downtrend and break below 33000 after retesting the upper trend line to then continue back to 32600 key level. With price failing to break lower we rejected and broke out to the upside to end the week above 33600. Now that price is trading above 33600 we can now begin validating buys to 34000. Typically we'd wait for a restest of the key level that's been broken which we've now got so from this price point if we see signs of a rejection we can expect buys to 34000. Otherwise, if price breaks below 33400 we can look for selling opportunities.