Dow Jones bounced at 25514.00 and holds above 26030.00
Dow Jones Index ended last week's events at around 24706.00 support price level, which I pointed out, and I mention the importance of this price level due to what happened at this point in the past.
Not only the history that we need to look at but more importantly is the recent price action that we need to look closely and figure out the possibility of the market reacting at this level. I am a short term trader, and my main focus is what is going on now calculating the recent price action which I will reveal my formula sometime soon and then look back in history to see if there's any similarity. There are also other factors to consider, such as political and economic conditions.
So what's going on with Dow Jones now?
Well, the Index started today's session around 25514.00 price level, which I highlighted in my previous update,
dipped below the line and took off. The Index has already pushed through 26030.00 another price level high lighted in my last video and trades at 26154.00 up 2.88% as I prepare for this presentation.
The next level is estimated at around 26491.00 if it holds above the current support at 26030.00, but I don't think we will see that today.
There is a possibility that the Index could head back down to 25514.00 if it fails at 26030.00.
Not only the history that we need to look at but more importantly is the recent price action that we need to look closely and figure out the possibility of the market reacting at this level. I am a short term trader, and my main focus is what is going on now calculating the recent price action which I will reveal my formula sometime soon and then look back in history to see if there's any similarity. There are also other factors to consider, such as political and economic conditions.
So what's going on with Dow Jones now?
Well, the Index started today's session around 25514.00 price level, which I highlighted in my previous update,
dipped below the line and took off. The Index has already pushed through 26030.00 another price level high lighted in my last video and trades at 26154.00 up 2.88% as I prepare for this presentation.
The next level is estimated at around 26491.00 if it holds above the current support at 26030.00, but I don't think we will see that today.
There is a possibility that the Index could head back down to 25514.00 if it fails at 26030.00.
