Dow Jones hits 25000/200 resistance zone
Dow Jones finally reaches the 25000 mark that we have been expecting since last several trading sessions. There could be another push towards 25200/300 mark before the we witness a bearish bounce. The rally from sub 23000 through 25000 would be seen as a potential resumption of an uptrend by many traders. Believe it or not, it is just an extension of the counter trend rally, that had begun from sub 18200 levels in March 2020. Wave C of the corrective rally seems to be completing around 25000/200 handle before Dow Jones could resume lower again. Immediate price resistance is seen towards 27100 and ideally Dow Jones is expected to stay below that. Overall, Dow Jones remains bearish until prices stay below 29600 resistance.
Strategy:
Short against 27300 (ideally 29600), targeting below 18000.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 27300 (ideally 29600), targeting below 18000.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.