Dow Jones might test 28400 before reversing
Dow Jones is setting up to test 28400 highs again before finding resistance and reversing. The indice is trading around 28330 (spot) for now and might rally past 28400 today or tomorrow. Either way, bottom line remains that prices need to stay below 29600 highs to keep the bearish structure intact. Alternately, even if 29600 gives into bulls, please note that upside remains limited. At least for now, until prices trade below 29600 mark, Dow Jones should be looking to reverse lower towards 18200 levels in the next several weeks.
Remain short, stop @ 29600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 29600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.