USA30 Index reveals descending pattern

Note: This section contains information in English only.
Source: Dukascopy Bank SA


After dipping below the 2021 June low level, the USA30 stock index recovered and has been fluctuating between the mentioned low level at 33,065.00 and the resistance zone of December low levels at 34,000.00. However, the most notable update since the start of February is the fact that the recent dip provided a reference point, which confirmed that the index has been declining in a channel down pattern since early December.

In general, the index could trade sideways between the mentioned borders until the stocks reach the upper trend line of the channel down pattern and the daily simple moving averages catch up.

Meanwhile, a potential decline would have to pass below the 33,065.00 mark, before approaching the 2021 February high and March low levels at 32,100.00. Further below the lower trend line of the channel down pattern might slow down a stock value depreciation.

On the other hand, a recovery of the stock market could result in the index testing the December low levels near 34,000.00. Higher above, the mid-December low level at 34,700.00 might act as resistance.
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