US30 Intra-Week Analysis May 23rd 2022

Last week we saw us30 begin the week with a very short lived pull back the key price sensitivity zone 32600 which is only maintained this bearish structure. We then had sellers drive us back down to the previous lows of 31300 which we broke below shortly after to then bounce off 30800 creating a new low and ending the week back at 31300. This week as we’ve began to break above previous lows and key level 31500 we can expect us30 to continue bullish to either 32200 or even 32500 before get buyers liquidating positions and continued sells to downside, still respecting this bearish sentiment and potential recesionnary faze us30 is in. Another key confirmation for a bullish move to 32200 is the clear range we have to the left, above 31500 to 22500. Other wise if we reject the 32k key level and close back below 31500 we can begin looking for sells sooner than expected