US30 Intra-Week Analysis Jan 17th 2022

17 בינו׳ 2022

Last week we saw the bullish move i anticipated play out to correct the previous weeks bearish decent from ATHs. As price tried to break below the key level of 36000 we saw low volume and lots of consolidation as expected leading into this week with the bank holiday occurring. Its still likely in the longterm price will continue bearish to around the 35400 area respecting the overall uptrend before continuing bearish again. Keep an eye on price action and if we still see lots of long wick rejections between 36000 and 35600 we could have a very bullish move sooner than expected.