Dow Jones - 20.000 or new all time high - we´ll see soon

DJCFD:DJI   Dow Jones Industrial Average Index
Technical view:

chart is showing still bullish trend structure and I expect further up moves to 27.000 which is strong resistance area . This is also an important area for long term price action. If price retrace again from there we can expect big down moves to 20.000 which is long term trend line . open long If the 27.000 resistance breaks up and weekly candle close above this resistance.

Current market sentiment:

Convincing signs in the US-China trade dispute fueled US exchanges on Friday. The readiness of both sides to continue negotiations beyond the self-imposed deadline and the expectation that the "ceasefire" will be continued helped the markets to raise. Both sides spoke of "productive" talks or "important advances", which should, however, continue to be discussed beyond the self-imposed deadline of March 1. It was also suggested that the deadline for new punitive tariffs could be postponed.

On the economic side, the mood in the industry in the US state of New York brightened surprisingly in February. At the same time the important consumer confidence determined by the University of Michigan was also stronger than expected. Robust consumption growth is out of the question in the medium term

My personal opinion:

I believe in a coming trade war between China and the US or US and EU (current US news showing possible 25 % taxes on German cars). Furthermore, I believe that the US economy is weakening and has reached its high. The further action of Trump and weakness of the FAANG shares I believe in the way to 20.000.

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