US30 Intra-Week Analysis Mar 28th 2023

28 mar 2023

Last week, we saw us30 breakout the intra-week range trading above 32250 as buyers dominated the market, hoping that the FED would pivot their hawkish narrative and bail out the falling banks. With FEDs later increasing rates by .25 which was expected and already priced into the market we saw a sell-off with price ending the week in the 32000 area. This week, we've begun slightly bullish, correcting last week's move and testing the 32500 key level. As we are still in a recessionary stage and the fight on inflation is far from over, our overall bias on us30 is still bearish but with consumer confidence coming in above expected we can expect to see bullish intra-day moves as greedy buys squeeze in max profits. With that, we will likely see us30 test 32500 once again before coming down to test previous lows of 31500. especially if we begin trading back below 32250. Otherwise, if price breaks above 32500 expect us30 to clear the range and test 33000 key level.