US30 Possible False Breakout and Short-Term

6 oct

The US30 has recently shown strong consolidation near its top resistance zone, forming a new record high around 47,100. However, the breakout above this level appears to be losing momentum, raising the possibility of a false breakout.

If price fails to hold above 47,100 and shows signs of rejection, this could trigger a short-term corrective move each key support and resistance zone highlighted on the chart remains critical to watch. The market’s reaction — whether a clean breakout or a rejection — will likely determine the next directional move should the index respect the current resistance and reverse, the next significant short-term support to monitor is located near 45,500.

You may find more details in the chart.
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7 oct

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