US30 Breakout from Symmetrical Triangle – Bullish Targets Eyed

29 Apr

US30 (Dow Jones) has successfully broken out of a symmetrical triangle consolidation pattern, signaling a shift toward bullish momentum. The breakout is occurring after a strong recovery from April lows, with higher lows supporting upward price pressure.

🔹 Chart Structure:

Symmetrical triangle with a clean breakout above descending resistance.

Series of higher lows indicating accumulation.

Bullish breakout confirmed with price pushing above the 40,580 zone.

🔑 Key Levels:
Current Price: 40,586

Breakout Confirmation Level: 40,580

Immediate Resistance/TP1: 42,762

Major Resistance/TP2: 43,924

Support Zone: 38,950

Invalidation/Stop Level: Below 38,950

✅ Bullish Confluence Factors:
Breakout of symmetrical triangle pattern

Higher lows indicate bullish strength and accumulation

Momentum shift visible on lower timeframes

Positive correlation with improving US equity market sentiment

Anticipation of dovish Fed tone could boost equities

🧠 Fundamental Context:
Market is cautiously optimistic ahead of FOMC this week; dovish stance expected due to recent soft economic indicators.

Earnings season tailwinds and lower bond yields support index gains.

Ongoing political and tariff-related headlines may cause volatility, but technical breakout remains in focus.

💡 Trade Idea:
Bias: Bullish

Entry: On successful retest of 40,580 or continuation above 40,600

TP1: 42,762

TP2: 43,924

Stop Loss: Below 38,950

📌 Note: Watch for pullbacks to triangle resistance-turned-support. FOMC and US macro data releases midweek can impact momentum.

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US30 +186 PIPS CLOSED.