US30 is currently trading around 51,380, after breaking below an important support zone inside a clearly defined descending channel.
Price is now attempting to stabilize beneath the former 51,500–51,750 support area. If the market retests this zone and confirms rejection, the bearish structure would remain intact and could open the way for another move lower toward 50,000, which is also close to the lower boundary of the channel.
However, a sustained recovery back above 51,750, followed by a break of the descending trendline, would weaken this bearish outlook and suggest that downside momentum is starting to fade.
For now, the setup still favors continuation of the current bearish structure, but the reaction around the broken support zone will be the key confirmation.
If you agree with this analysis or see the structure differently, feel free to share your view in the comments. 📉🔥
Technical analysis only, not financial advice.
Price is now attempting to stabilize beneath the former 51,500–51,750 support area. If the market retests this zone and confirms rejection, the bearish structure would remain intact and could open the way for another move lower toward 50,000, which is also close to the lower boundary of the channel.
However, a sustained recovery back above 51,750, followed by a break of the descending trendline, would weaken this bearish outlook and suggest that downside momentum is starting to fade.
For now, the setup still favors continuation of the current bearish structure, but the reaction around the broken support zone will be the key confirmation.
If you agree with this analysis or see the structure differently, feel free to share your view in the comments. 📉🔥
Technical analysis only, not financial advice.
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