US30 On the Hourly that is in Bearish (directional) Market Bias, a new and thin S&R Zone formed. Price action can drop down from it, but also range widely between two S&R Zones with one below (that starts at 42,126).
If we get a game of Ping Pong with no clear direction, then a breakout needs to happen.
US30 What's Below? On the Hourly, if the bearish candle still forming breaches the Swing Low of 42,200 with a candle close on that price or lower, the more moves to the downside.
Look at the levels of Support the bears can potentially break through: 3 S&R Zones and 7 Swing Lows that have not been breached for a long time. They are still active.
This may be a "sweep" to clean away all of those old Swing Lows to make way for new ones.
Alternative Senario: If the current bearish candle forming can't breach the Swing Low of 42,200 with a candle close on that price or lower, then back up it goes.
US30 The Hourly has just formed a Bearish Pressure Zone. The Triple Inside Day earlier revealed a very BIG move coming.
If the new candle forming closes below the low of the previous Shooting Star (shown as a blue dotted line), then more moves to the downside - towards the Swing Low of 42,200. But if the new candle fails to close below the low of the previous Shooting Star, then back up again - towards the Pivot high of 42,533 (in red arrow).