The US benchmark index Dow Jones has formed a Flag pattern along with a Rising Wedge pattern. With both the patterns happening at the same time one should stay neutral and wait for breakout above or below the wedge pattern, to get confirmation of the next move. Though the overall trend is still bullish but in the current scenario, its prudent to have...
All governments globally have been generous in providing decent amount of stimulus to their respective countries as compared to their GDP's. What makes me wonder is that even after such huge amount of stimulus many countries have shown flat GDP growth or economic contraction. What if these stimulus were not provided at first place? The economies and the global...
ANALYSES BASED ON 1. PRICE ACTION AND ONLY PRICE ACTION . 9940084570 IF YOU HAVE ANY QUERIES
1/Price correct upto 61% start maaking HL & start HH ,HL making in small swing. 2/divergence confirmed bottom made. 3/Entry above blue line 4/sl below recent consolidation 5/recent bullish candel start showing stength
Expecting a short term reversal strong resistance level is just near by
Chart is shared only for the educational purpose.
Short below 27230;400 points target
Short or long depends on breakout or breakdown I suppose it will give breakdown
DoW Jones Futures are bearish if continue to stay below 27200-22250 levels. The weakness can lead towards 26K levels Bearish head and shoulder/QM pattern visible in chart(not perfect)
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.
USDINR has been consolidating since one week and tried to form a base (at the demand zone). In Previous day session it broke its resistance (73.65), and sustained above it. At current level it is looking good for long with good R:R, Minor hurdle at 73.9.
Dow can retest 28600 with a stop below 20860. The base line of ichimoku will be flat for another 11 hours unless Dow makes a new low. watch out for the breakout from the triangle pattern
S&P 500 broke its all time high in previous session will gap up but looking at the structure I think its exhaustion gap. Also, look at DJI, it gave flag pattern breakout on 21 Aug. Interestingly there's a gap border resistance present in DJI at 28400.