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17.03.2023 09:09 AM
DJ30, H4 | Potential Bullish Reversal

The DJ30 is currently experiencing bearish momentum as it is below the Ichimoku cloud. It may potentially rise towards 1st resistance level, and then drop towards the first support. The first support level is strong at 31408, followed by another swing low support level at 31018. Conversely, 1st resistance level is at 32497, which coincides with a 38.20% Fibonacci retracement level, while 2nd resistance level is at 32961, which is also an overlap resistance level.

The DJ30's bearish momentum may continue due to various factors, including its position below the Ichimoku cloud. However, a break through 1st resistance level and a subsequent rise towards 2nd resistance level could potentially indicate a shift in momentum towards a more bullish trend.

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Dean Leo,
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