With the US30USD price sitting at a strong horizontal and upwards trend-line support - the market technical analysis here points at upwards movement (Strong pin-bar bounce from support line).
Although our market analysis points towards a potential move up, you should only enter a position if you see a strong break-out above the 25,500 level.
The DJIA could still be under pressure from the increased interest rates and geo-political tensions, if the bears are able to move the price down below this key support level then the market is in serious trouble and there could a downtrend formation in play.
You should always combine a fundamental and technical analysis together. This can give you a much better insight into where the market is looking to go. Simply using technical analysis is not good enough.
This is not investment advice - Losses can exceed initial deposits when trading. Good luck!
Although our market analysis points towards a potential move up, you should only enter a position if you see a strong break-out above the 25,500 level.
The DJIA could still be under pressure from the increased interest rates and geo-political tensions, if the bears are able to move the price down below this key support level then the market is in serious trouble and there could a downtrend formation in play.
You should always combine a fundamental and technical analysis together. This can give you a much better insight into where the market is looking to go. Simply using technical analysis is not good enough.
This is not investment advice - Losses can exceed initial deposits when trading. Good luck!