DOW JONES - TRIANGLE AT RESISTANCE - EXPECTING SELL OFFSymbol - DJI
CMP - 44593
The Dow Jones Industrial Average is currently trading within a symmetrical triangle pattern, indicating a period of consolidation. This technical structure suggests that the price is experiencing a balance between buyers and sellers, with no clear directional bias in the immediate short term. The breakout of this triangle, whether upwards or downwards, will likely determine the next significant move in the market. At present, my personal bias is towards the downside, a
Djianalysis
US 30 Price Behaviour Analysis - Dow Jones is currently trading at 40,2584
- DOW showed us a major sell-off as well where all its major constituents getting slaughtered
- Dow still has a better price action when compared to SPX & NAS
- Dow is also waiting for the CPI print to be laid out and then only we will see a possible bounce back
DJI Intraday Prediction Levels for 29 Nov 2023DJI Intraday Prediction Levels for 29 Nov 2023
The chart indicates 15 min time frame. These Levels act as Support or Resistance according to price. They are strictly for Intraday Trading only. Execution only after break and close above the Resistance zone or below the Support zone.
Major Resistances- 35495,35555,35610,35640,35703,35780,35860,….
Major Supports-35350,35280,35230,35175,35115,35065,3500,…
These levels act as support and resistance. You have to trade according to level breakout
DJI - Likely to start a wave 3 upwards? To make a new high?DJI has formed three sub-fractal i,ii, i,ii, i,ii since the impulse upwards since the Oct 22 bottom.
It should eventually materialize in a wave iii upwards i.e. 3 sub-fractals of iii,iv, iii,iv, iii,iv.
In all possibility the recent wave ii is complete in a five wave C downwards. Today's price action at NYSE opening would be crucial.
DJI AnalysisDJI technically downtrend
Analysis 1
DJI doesn't break the DAY and 1HR Trend line.
seems sell retracement.
once cross down and sustain 33500 means the fall down to 33350.... 33350 to 33200 is demand zone...if the demand zone invalided means the price fall down to 33000...
(a) sell stop risk entry 33600 safe entry 33450
targets 33350/33250/33150/33050
buy stop 33800.
Analysis 2
DJI breaks the trend line and sustain means.
Rally continues up to 34300.
there will be a 2 Supply zones.
1st Suppl
DJI DOW BOTTOM CONFIRMATIONDOW THEORY RULES:
1. How to Identify Significant bottom(valley)?
We need two parameters
1. Width:- Should be more than 31 days(≈ 4 weeks)
2. Depth:- Should be more than 4%, in the valley we measure Depth by looking from top to the bottom (visualizing as seeing a pool of water from the surface and measuring its depth).
AS PER DOW THEORY, NEW BOTTOM CAN BE CONFIRMED TOMORROW IN DJI IF IT SUSTAINS ABOVE 30K LEVEL, TOP IS AT 34856 UNTIL THAT IS NOT TAKEN OUT DJI IS STILL IN A DOWNTREND. BUT THE
Bullish Divergence in Dow Jones Industrial AverageRSI Bullish Convergence was there on weekly charts of Dow Jones only 5 times in last 20 years, which was always followed by average 15-18% market rally
similar RSI convergence is visible on weekly Dow Jones chart Right now, pre-covid highs are acting as a support
Disclaimer: Chart, data and levels for study purpose only. I am not a financial advisor. Use your intelligence before investing.
Comparison of leading markets to anticipate the future movementAn attempt to anticipate the future movement of different markets over next 5 to 10 years. If we see the movement of 6 markets, we can have some insights.
Among the 6, Germany (DAX- purple) and India (NIFTY50 - red) look like being in the middle zone of the direction of movement since 1991.
Hong Kong (HSI - green ) came down gradually from around early 2018 to 2022, now looks at a fair level (may fall further to form a bottom).
USA(DJI - blue ) has recently started falling after forming a sha
Inverted Cup & Handle pattern in monthly timeframeHello All,
Market is at very important point where it can take support and go higher and if rejection we have big fall.
My expectation is at least 3000 points if cup and handle broke.
FED hike warnings really bothering the market and on Friday it broke previous low and touches 20% fall from Jan 2022. However if it closed with the same momentum on Friday then we would’ve seen big gap down on Monday opening.
Please note this is just my observation only and for purely for educational purposes.
Dow Jones technical analysis ahead of FOMCThe US headline CPI data released last week surprised the market with a smaller drop than expected. As such, a higher chance is being given to a 75-basis-points rate hike in the upcoming September FOMC meeting. The US stock market reacted with a major sell-off last week, signalling that the summer rally has overstayed its welcome.
The Dow Jones plunged by 1,300 points or 4.2% last week. The S&P500 dropped by 5.2%, while the NASDAQ declined by 6.0%.
The interest rate decision from the Fed due t























