US30 Analysis 1-27-22
After the Fed announcement yesterday US30 has dropped significantly. Currently price seems to be retracing the move from yesterday. If price breaks the key levels leading up to market open there is a high chance the levels mapped out can be tested.
Overall, I still believe there is more bearish momentum to come if price forms a level of resistance. I think price will retest the lows created from yesterday and might even create lower lows. Waiting until market open to see what price decides to do.
1. Price formed a low yesterday
2. Resistance has formed at this level. If price fails to break above, sell opportunity might be in favor for NYSE open
3. If price begins to break these lows, there is a high probability for price to retest the lows from yesterday and possibly create lower lows
Overall, I still believe there is more bearish momentum to come if price forms a level of resistance. I think price will retest the lows created from yesterday and might even create lower lows. Waiting until market open to see what price decides to do.
1. Price formed a low yesterday
2. Resistance has formed at this level. If price fails to break above, sell opportunity might be in favor for NYSE open
3. If price begins to break these lows, there is a high probability for price to retest the lows from yesterday and possibly create lower lows
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