Technical analysis USA.30 for 06.03.2024

Tenkan-sen and Kijun-sen lines are merged. Both lines are directed downward. Confirmatory line Chikou Span is below the price chart. In this case, the cloud is descending. Instrument is trading below the Tenkan-se and Kijun-sen lines. The closest support is the level 38450. The closest resistance is the level 38800

Key levels

• 39200, 38800, 38450, 38100, 37600

Trading scenario

• Recommended opening short positions (Sell Stop) from the level of 38450, with Take Profit of 38100 and Stop Loss of 38800

Alternative scenario

• Recommended opening long positions (Buy Stop) from the level of 38800, with Take Profit of 39200 and Stop Loss of 38450