AlanSantana

Dow Jones Industrial Average Risks Strong Drop!

Short
TVC:DJI   Dow Jones Industrial Average Index
We can see the Dow Jones Index (DJI) trading below EMA50 on the weekly.

We have a chart that shows the exact path that we believe the DJI will take and it is playing out perfectly:
We know that this index and the SPX move quite similar. And with the SPX now being super bearish , the DJI might follow.

Support for the DJI is sitting at 25220, if this level breaks, expect for it to move much lower. If this level instead holds, expect a bounce before we can analyze the next move.

Overall, the indicators are bearish and the chart structure as well.

After hitting a new all-time high, it is normal for the price to retrace.

Feeling the market: Strong crash ahead.

This information is not intended for trades.

Thanks a lot for reading.

Namaste.

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