xtf_ze_trader

DJI hanging on a thread before plunge to the abyss 👿☠️👹

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TVC:DJI   Dow Jones Industrial Average Index
Yesterday DJI bounced back but apparently bears are back in the city and they want to plunge the market to the abyss. Is this gonna happen do they have the necessary to do that? Lets dig deep and analyze.

The signals for trend reversal keep increasing as days go by. The market is back to test the critical point uptrend line and 50MA aligned together. This kinda strong support confluence is where the market is hanging now. If market bounce back from here we can keep saying we in uptrend.
However, if this 50MA + uptrend line support breaks I think the market can plunge to the abyss and probably go back test the 23.8k levels.
Bears have more juice atm:
- daily PSAR is negative
- LSMA pointing to the abyss
- price failed to stay above 200MA
- price below 0.618fib if this is not a bear trap before the market kicks their butts and go back towards the 30k

Bulls have this critical point to save them and hope for Mr Market to play a bear trap.

I will keep my eyes on this chart and keep you updated of any single change to the direction so that you can make informed decisions.

Have a nice weekend.
Dont forget to smash the likes.

Comments

Bulls have been saved by the 50MA and uptrend line confluence. We can stay we still bullish.
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