FX:US30   Dow Jones Industrial Average Index
17 0 1
A strong weekly rally saw price break resistance at 17600 and close above.
The Daily also posted a very strong bullish engulfing candle with a 350 pip move. This generated enough momentum to break the resistance level in the following day.

The Daily MA's are bullish , whilst weeklies are approaching a possible crossover to the upside.

I expect DOW to reach an area of resistance around 17800, with a pullback to the 17600 support before rallying further up to 18100. Two scenarios will take place at this point; either we'll see price push past this resistance level and test the all time highs. Or we'll see price exhaustion at this point, followed by a pullback before the next rally up.

I am remaining bullish on the DOW for the time being, dropping down to smaller TFs for entries into rallies. For me buying dips is my aim up until we reach previous all time highs.

Happy Trading!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out