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US30 - PRE NY SESSION ANALYSIS - 05172022

US30 - PRE NY SESSION ANALYSIS - 05172022

Price has been pushing back up so far this week.

Overall from the macro perspective I believe we still are in a bearish market.

However, price is breaking above previous structure highs on the lower TFs.

With this in mind, I have my eye out to see what price does over the next hours/days.

If price continues to push up and forms a floor of support where structure was previously resistance then I may be targeting short term buy opportunities to ride this push up which appears to be a pullback on the higher TFs.

I will have my eye closely on this push up to also see if it begins to run out of gas near levels of supply/resistance and exhibit signs of exhaustion/reversal.

If so, then I will be looking to get back into a sell order to continue with the overall larger bearish trend.

Some significant US sales data news today @ 8:30am and Daddy J. Powell is speaking @ 2pm, other than that smooth sailing the rest of this week with US news.

Happy trading and see you after NY session today!
Chart PatternsTechnical IndicatorsTrend AnalysisUS30us30analysisus30ideaus30indexus30sellus30shortus30updateUS WALL ST 30

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