Dow Jones has broken neck line of head and shoulder pattern and decline till 17000 is possible. Trend reversal only above 17925. Head height- -611 points .Target- 17089 (17700-611).
sell DJIA around 17650-700 with SL around 17925 for the TP of 17090
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The_Cannalyst
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The_Cannalyst
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H&S is reactivated and activated - The market drops per close below the neckline and the EMA 200!!!. If the close below this level is sustainable this generates technically a shortterm and longterm short-signal.
The bottom-edge of the tradingbox turned into a resistance @ 17.630 - thats the new Level to watch!
- A close below this Level generates a shortterm-target @ 17.350/17.200
- A close upper this Level generates a shortterm-long-signal with target @ 18.165 (right shoulder)
former Analysis:
DJIA is still caught in the box. The H&S is perhaps passè. With the close above 18.100 (This Level perhaps negotiated the right shoulder), a shortterm-buyingsignal was generated with target @ 18.300. But beware: DJ closed near his box-upper edge. This Level is delicate to start a consolidation. Have a look @ the box-edges - These will generate nice signals!
former analyisis: Since 4 months DJ is consolidating in his tradingbox 17600-18260. The Zone between the tradingboxes edges has a neutral character, But the edges of the box are good for scalping
Scalping ideas / Trading the support / resistance:
-Long @ 17.600/17.750 - target 18.300
- Short @ 18.300 - target 17.600/18.300
The First shortterm buying-signal appears if Dow can close higher than his right shoulder @ 18.100 -shorttermtarget: 18.300
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marihuanaaktien
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The_Cannalyst
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Thanks for sharing!!! I have the same opinion and technical view! Have a look at my actual and former Analysis