U.S. stock indices have made a slight recovery on Thursday morning, showing signs of bouncing back after the recent sell-off. The NASDAQ 100 is regaining strength, with the 21,000 level acting as a key support, supported by the 50-day EMA. Similarly, the Dow Jones 30 is seeing buyers step in near 42,200, although its recovery seems slower compared to other indices. The S&P 500 is up 0.7% in pre-market trading, with investors seeing recent drops as an opportunity to buy at lower prices. Overall, the markets appear to be stabilizing, with optimism about the U.S. economy’s resilience despite concerns over higher interest rates.
US30 – D1
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Structurally speaking, the price action on the daily timeframe chart of US30 is bullish. Price has clearly established a demand zone at the low leading to the initial bullish break of structure – with a Fair Value Gap in-between. The current price has been rejected from the confluence of the highlighted demand zone and the 100-day moving average, inspiring confidence in the bullish sentiment.
US30 – H4 Timeframe
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On the 4-hour timeframe chart, an SBR pattern has been established following the sweep below the previous low, followed immediately by the bullish breakout. In this case, the lower timeframe stands in direct correlation with the higher timeframe sentiment – bullish.
Analyst’s Expectations:
Direction: Bullish
Target: 41511.07
Invalidation: 45139.61
CONCLUSION
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