Lingrid

US30 reversal at SUPPORT line and GROWTH

Long
CURRENCYCOM:US30   Dow Jones Industrial Average Index
After last November the price broke through the 27638 support line, it rallied to the 30884 resistance. And these two lines are the main turn lines on the chart at the moment. The price has been moving along the resistance line for the last month.

However, the other day it pushed off from point 31679, then fixed on the line and fell to the support line 30883. This is the strong line of May 2020. I now expect growth from this line. Thus, my final target is the resistance line 31777.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Comments

Is this the end of a rising wedge pattern soon. Signalling further down trends.
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Great minds think alike 😉
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Lingrid r2d22010
@r2d22010, 😉
+1 Reply
Thanks for your work, friend. I saw that I was wrong about the resistance line. Which SL should I use for support? I am worried that there will be no false breakout.
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Lingrid TradingStat
@TradingStat, use stop loss not only when in doubt😉
30372
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it mean gold still falling?
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Lingrid nimavao
@nimavao, idea for gold)
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