Looks like it will be a quite tough to break 25200 levels
UPSIDE JOURNEY OF DOW JONES STARTED TODAY 1. DOW MADE UPPER END OF RED CHANNEL IN FIG. FEW DAYS BACK. BUT IT WAS SEARCHING THE LOWER END OF CHANNEL WITH PERFECT ANGLE . TODAY THE LOWER END IS FORMED. LOCAL DISTIBUTION IS GOING ON. VERY SOON JOURNEY FROM CHANNEL END TO WHITE ZONE OR UPPER END OF CHANNEL WILL BE COMPLETED. 2. AS YOU ALL KNOW STOCK MARKET IS GAME...
DJI trading in the Consolidation Zone. There is a demand zone @ 23450-23700 and 22650-22950 is a short turm major demand zone on the downside. If it will sustain manage to sustain above 23450-23700 then there is a maximum possibility that it may break this Consolidation Zone on the upside and test its next major supply zone @ 24650-25000.
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Short DJI at CMP (23060+) T1: 22450 T2: 22110 T3: 21500 SL: 23620
suppose to sustain above 21494, price push more up 300-400 point s on DJIA. Valid R 21518 => There's still a chance to push price 20532 and 20415 if the price is trading below 21518 . Exactly resistance was taken as yesterday predicted.
DJI is near resistance...danger if remains below 21600. lets see where it closes. Down cycle is again started and it will not broken unless resistance is breached
R 21518 Below this level target is 21094(breakdonw) , suppose breakdown this level will push price 20532 and 20415 . Recent, GAP was almost 661 points which is -ve for DJIA. If suppose price close above 21518 will push price upward. (low chance)
Expect DJI to recover sharply in couple of weeks.
*A very strong Resistance @ 21200 which made a strong reverse pull candlestick to touch previous day close even surpassing the gap. *A well suited ABCD pattern which is supporting our decision.
DJI trading very near to its major demand zones on both weekly and monthly charts. Yesterday DJI closed in its major demand zone @ 18800-19300 on the Monthly chart. Next week if it will sustain below this zone then it may test its minor demand zone @ 18000-18500 and in the worst case, it may test its major demand zone @ 17000-17500. Due to the volatility, these...
Dow Jones (DJI) weekly chart study - Megaphone (Broadening top)
dow jones if broken below 1000 more points coming in a hurry and many more till the trend is safe
Expecting a bottom in Dow / DJI between 22100 -22800 levels. Trend lines indicate probability of these levels.
Support band is between 20887.2 to 22499.8
Dow Jones DJI making a 61.8% retracement. Expecting a bounce very soon.
This is a very strong resistance right above us. Can short the down here with a 100 point stop looking for a 500 point gain. With a 1:5 rr its a good low risk opportunity.
Dow Jones index (DJI)day chart analysis