US30 – Chop or Fakeout?

🔴 US30 – Chop or Fakeout? 🔴
May 2, 2025 – 1H Chart Update

After the bullish breakout above 40,700 yesterday, US30 surged to 41,051, but we’re now seeing price stalling just under that level, forming a potential double top or distribution pattern ⚠️

📊 Technical Breakdown:
🧱 Price rejected at ~41,050 (previous swing high zone)

📉 Small pullback forming after strong bullish leg

📍 Key short-term support still at 40,700

🧠 Market could be consolidating post-FOMC run or prepping for a deeper pullback

🎯 What to Watch:
Bullish Continuation Setup:

✅ Needs a 1H candle close above 41,050

🎯 Target: 42,000 → 42,359 resistance zone

Bearish Scenario:

🔻 Break below 40,700 flips structure short

🎯 Downside targets: 40,260 → 39,775

Neutral Bias If:

Price consolidates between 40,700 – 41,050 = no clear trend → stay flat