Note: This is for educational purpose only. There is a W pattern formation in DJI. RSI however is in neutral zone so need to be cautions. Price movement above the 28200 will see next major upmove.
BUY Dow Jones YM1! @ 27761 STOP LOSS @27671 TARGET @27871
Looking for a BreakDown Sitting on Knife's Edge Atleast a 500 points Break Down from here
Levels are marked in the charts Resistance = Orange Targets = Green
COMPARING MY LAST STATEMENTS WITH THE ACTUAL MOVE ON 18-5-20 1. In point no3. of previous post regarding movement of dow I talked about down side movement from monday onwards. In point no.4. I gave the condition of positional short trade if it gets fullfilled only shorts can be initated . But unfourtunately it did not complete my condition of taking short....
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 Dow Jones short best level to short
Key Levels for SHOPIFY INC NYSE for INTRADAY TRADING are : Upper Breakout~363.50 First Target~370.30 Interim Resistance~378 Final Resistance~384.80 **Lower Levels** Lower Breakout~351.55 First Target~345.60 Interim Support~339.60 Final Support~334.80 Please trade with caution and consult your financial adviser before trading.
*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.
Dow Jones (DJI) weekly chart study - Megaphone (Broadening top)
Support band is between 20887.2 to 22499.8
Chevron Corporation: The move up in the last couple of sessions seems to be a corrective pullback. The RSI is now at the bearish extreme zone, the candles are forming bearish patterns. The prices have also closed below the KS & TS lines. The trend down is expected to continue. A close below 115.5 will confirm the trend.
DJI will probably take one of these two routes - Curve A or Curve B. Comment what you think looks probable. The three trend lines extend from Feb 2013
1) Dow Jones Industrial Average is still above its 50 week EMA. 2) It has formed a double top with a bearish divergence on RSI and Stochastic oscillator. 3) An ascending triangle formation is possible is the lower trendline is not violated.