US30: Trendline Resistance

US30, H4

US30 tests the trendline and faces a crucial resistance level at 44000 level, coincides with the 161.8 Fibonacci ratio.

The RSI Oscillator is extremely overbought, and the Bollinger Band narrowing, signaling a potentially big move.

If the price breaks above the 44000, it will rise to 46100 level.
However, if US30 bounces from the 161.8 Fibonacci, the asset may fall to 43400.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul