ICmarkets
Long

DJIA looking tasty from 23392...

FX:US30   US Government Bonds 30 YR
Weekly gain/loss: +0.34%
Weekly closing price: 23506

US stocks extended higher for an eighth consecutive session last week, dragging the index up to a fresh record high of 23550. Should the unit pullback this week, the next weekly downside target in view is demand coming in at 22216-22431. On the daily timeframe , the closest demand base can be seen at 23321-23403.

Friday was a relatively quiet day for the DJIA             , down 0.02% on the day. As you can see, the H4 candles recently crossed swords with a channel resistance extended from the high 23452 and ended the session printing a full-bodied H4 bearish candle.

Suggestions: In light of Friday’s H4 closing candle and the aforesaid H4 channel resistance, further downside could be seen to the neighboring H4 channel support etched from the low 23250 today/this week. Should H4 price test the point at where the channel support and November’s opening level at 23392 converge (green marker), this is a valid long, in our opinion. Even more so considering that the monthly opening level is sited within the aforementioned daily demand – a perfect area to measure a stop-loss order from!

Data points to consider: FOMC member Dudley speaks at 5.10pm GMT             .
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
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