After the all-time high on April 16 and the subsequent sharp setback to the low at 33,697 points, the US index (H1 chart) shows a first reversal pattern. If demand rises, dominance could soon shift back to the long side.
Means in detail:
As long as the support level at USD 33,800 and USD 33,770 (green zone) is no longer sustainably attacked or undershot, a breakout (the upper limit of USD 33,877) and follow-up purchases can be expected soon.
In the event of a dynamic upward impulse, a price target of up to the 34,150 point mark can be assumed. This underpins a very balanced risk-reward ratio.