DOW 30: STILL BEARISH?
Currently trading @ 31773
The Dow has been in a bearish trend for 8 weeks now and we still expect it
to continue its bearish trend.
Currently approaching the edge of the descending channel
We expect it to reject a potential break-out and it to continue to the downside.
Long-term we expect Dow to reach August to November 2020 support levels @ 29200
before some short term retracement to the upside in the month of June.
Short term key entries(Bearish)
Sells
Sell limit
@ 32,000
Sell Stop
@ 31,600
@ 31,300
Long term key entries(Bullish)
Note: on 1D & 1W chart Dow 30 is showing signs of turning bullish
Buys
Buy limit
@ 29,300
@ 30,200
Buy Stop
@ 32,700
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
The Dow has been in a bearish trend for 8 weeks now and we still expect it
to continue its bearish trend.
Currently approaching the edge of the descending channel
We expect it to reject a potential break-out and it to continue to the downside.
Long-term we expect Dow to reach August to November 2020 support levels @ 29200
before some short term retracement to the upside in the month of June.
Short term key entries(Bearish)
Sells
Sell limit
@ 32,000
Sell Stop
@ 31,600
@ 31,300
Long term key entries(Bullish)
Note: on 1D & 1W chart Dow 30 is showing signs of turning bullish
Buys
Buy limit
@ 29,300
@ 30,200
Buy Stop
@ 32,700
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
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