DOW30 Intraday - We look to Sell at 33420 (stop at 33755) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. The hourly chart technicals suggests further upside before the downtrend returns. Preferred trade is to sell into rallies. Our profit targets will be 32470 and 31785...
Us30 will drop to 32550 levels Their is a strong resistance area above 33250 and the downward trend is continue until Hit 33550 levels
Or in fact: Jones-in-the-box as Dow Jones has jumped out of the lower green zone between 32374 and 32934 points quite impulsively. Although the index could now directly continue the ascent above the resistance at 33434 points, we rather expect it to come back into the lower green zone to finish wave 4 in green – ideally at its bottom. Afterwards, Dow Jones should...
It certainly doesn't look good on the weekly. Price failed to continue that bullish momentum into the SSB. The subsequent rejection n the form of hanging man-ish looking candle is a catalyst for my short. The target is the other side of the SSB. It could just drop and be done in a week you know. . .R multiple is over 3.
As illustrated, it would appear that the markup phase is done on the Dow Jones for now as price entered a phase of distribution and broke out. I am anticipating nice selling opportunities for traders but as always manage your money wisely. Will update as time goes on, stay tuned! Good Luck. God Bless!
Prior to this analysis, I had published an analysis in daily timeframe. Check it out first. Now you see a setup for a sell position at a lower time frame (1H). If the price reaches the specified block order, we will wait for the trigger in the lower time frame (5m).
On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will rise from our 1st support at 32814 where the 23.6% Fibonacci retracement is to our 1st resistance at 33463 in line with the swing high resistance. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website...
Like I said in my last analysis on DOW, it might face resistance at 33200 level. So, I'm taking a Neutral stance and smart money can be seen at Current market 33200 Straddle.
Based on 1W TF, There seems to be a good correlation between DJI chart (Mar'09-Mar'20) and BTC (Mar'20-today). Based on fibonacci retracement, We can see that after DJI had reached 1.6 retracement marked with a double top pattern, a correction to 1 retracement took place. Interestingly, these things are also seem in $BTC, as $BTC reached 1.6 retracement marked...
DOW faces a huge resistance at current levels 33200, if it is able to surpass it on Monday on Upside, then strong Upward momentum can take it upto Big sellzone between 33800 & 34100 which is a very strong Resistance on Daily/Weekly timeframes.If Dow can surpass this sell zone with Good Volumes, then Dow can finally move into Uptrend and next stop would be 35300...
Sell Dow Jones @32,800 Stop loss 33,100 Take profit 30,700
DJI retraced already 17% from 36952 ATH to a low of 30636, now at 32120. This completed a 1:1 abc corrective wave. 30636 is also the black VWAP from pandemic low. This may be the bottom if 30636 holds. If it does not hold, DJI may retrace 20 % (bear market boundary) to 29570 pivot which is also the pre-pandemic top. This will be near the 0.382 FIB retracement ...
#DowJones : Meeting its 11 Year old support trend line. What next?
Currently trading @ 31773 The Dow has been in a bearish trend for 8 weeks now and we still expect it to continue its bearish trend. Currently approaching the edge of the descending channel We expect it to reject a potential break-out and it to continue to the downside. Long-term we expect Dow to reach August to November 2020 support levels @ 29200 before...
Looking for us30 to pull back to the 50 ema or the rend line. And then go upward
The Dow is looking bearish AF!!! if we close below the 21 EMA on the monthly chart our next downside target will be between 21k and 23k.
NAs100 hits 1.618 Fib perfectly , this could be the local bottom for now but setting up for a much bigger fall later on. The bar pattern from 2007/2008 crash is looking very similar right now and we could be setting up for a much larger move down . I have overlayed the bar pattern from the drop in 2008 , a 50% drop would hit the 0.618.
It has significant resistance in the specified area until the trend can be expected to change