US30 has been consolidating for the past 2 weeks and the closing price of the daily candle is also getting lower.
Putting aside fundamental and just trading with pure technical analysis for the short-term, selling the US30 near the range high could be a good opportunity.
The price is now retracing higher from the bottom of the consolidation while an ABCD formation may form if it continues to retrace higher.
Look for sell opportunity if ABCD forms around 27250 and aim to take profit either at the previous low or within the key demand zone just below 27000.
Putting aside fundamental and just trading with pure technical analysis for the short-term, selling the US30 near the range high could be a good opportunity.
The price is now retracing higher from the bottom of the consolidation while an ABCD formation may form if it continues to retrace higher.
Look for sell opportunity if ABCD forms around 27250 and aim to take profit either at the previous low or within the key demand zone just below 27000.