- 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
If 38902 doesn't sustains in hourly then it could 📉 to 38247 within 29th May
Disclaimer:
It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
If rejects from red line in next hourly candle or any closing below that then could test below 📉 📉
green line or 39819
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
DJI 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...
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 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...
On weekly time frame DJI testing very crucial trend-line.
Breakdown will lead to massive sell off or any upside from here could make short term bottom.
just a thought not a trading idea not investment advice.
DOW 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...
RSI 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...
Dow Jones Industrial Average Index View Spot Cmp - 29941
Dow Looking Week On The Chart Follow Lower Low Pattern In The Chart
Important Levels
Above 30572 Go Long For Target 32000 ++
Below 30428 Go Short For Target 28000 ++
An 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...
Hello 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...
The 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...
