US30 (Dow Jones) - Turning Back Into Long-Term Uptrend OR Nope?
Hi Traders. One of the biggest questions for most of us now could be "Is the stock market/ Indices turning back into an uptrend?"
My answer to this will be based on multiple scenarios. Yes, for the past one month things have been looking very healthy, but technically it is still under a mid-long term downtrend.
Mainly because it still has a huge resistance zone ahead at 33,000 - 33,300.
As long as price doesn't break above the huge resistance structure, it is relatively hard to make any conclusion.
However, In the short-term play I'll mainly be looking for quick in & out positions, both directions are fine because I believe the market is being slightly indecisive now.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
My answer to this will be based on multiple scenarios. Yes, for the past one month things have been looking very healthy, but technically it is still under a mid-long term downtrend.
Mainly because it still has a huge resistance zone ahead at 33,000 - 33,300.
As long as price doesn't break above the huge resistance structure, it is relatively hard to make any conclusion.
However, In the short-term play I'll mainly be looking for quick in & out positions, both directions are fine because I believe the market is being slightly indecisive now.
If you enjoy the content, make sure you follow my profile and click the like button.
Take care and trade safe.
All the content I've posted are for educational purposes, please perform your own research and only take it as a reference.
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