Technical Analysis – US 30 index fails to improve the bullish picture
Posted on May 22, 2020 at 9:52 am GMTThe US 30 index is creating a sideways channel with an upper boundary the 24,913 resistance and lower boundary the 22,900 support. The index is still developing above the 50-day simple moving average (SMA), however, the MACD oscillator is flattening in the positive region and the RSI is approaching the neutral region, endorsing the neutral mode in the short-term. Should the index make another run lower, it’s likely to meet support at the 50.0% Fibonacci retracement level of the downward wave [..]