Dow Jones index, will buyers take over?

PEPPERSTONE:US30   Dow Jones Industrial Average Index
US30 / 1D

Hello Traders, welcome back to an update on the dow:

As mentioned last week in the previous idea: the argument for buyers was much strong, as a recap; Bulls were looking at:

1- A wedge with 3 touches, high probability for reversal.
2- The last daily close is a bull doji bar, which might invite more bulls as a signal bar.
3- The target for bears has been achieved as a second leg down from the last 2 highs, so they will buy back their shorts.

However, the price now is trading at resistance, I'll be waiting for a breakout for bulls or for bears to show up. That means I'll be looking to sell short.

Trade safe,
Trader Leo.


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