The U.S. 30 is in a consolidation phase after the corrective move from 34561 to 34991.
This week, the index depreciated from 35632 to 34561 and such a deep correction could be considered as an opportunity for good market entries for the buyers before the long-term rally continues.
However, only a breach of the resistance at 35227 could signal the reinforcement of the positive sentiment among traders.
In the negative direction, a test of the support at 34723 cannot be excluded and, if the bears take control, this could be considered as a reversal of the long-term uptrend and may lead to sell-offs.
This, in turn, would head the price of the index to the low at 33734 from 19.07.2021.
