DowJonesEarly signs of profit booking in DowJones coming up.
Negative RSI Divergence, followed by price rejection & now started to trade below ST EMA.
Resistance 32940
Support 32700-32500-32100
Dowjonesanalysis
Dow Jone Industrial Average - W pattern formationNote: 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 YM1 Emini $5 Dow Jones Futures CBOT_MINIBUY Dow Jones YM1! @ 27761
STOP LOSS @27671
TARGET @27871
DOW HAS STARTED ITS FINAL JOURNEY TO UP DIRECTION SEE HOW!! 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 OF PROBABILITY SO ITS LANGAUGE IS CONSIST OF CONDITION (IF) THAT YOU SHOULD KEEP IN YOUR MIND. A BLUE COLOR LINE IS GIVEN THAT IS SUPPORT IF BREACHED THEN LONG SENTIMENTS WILL CHANGE TO SHORTS.
3. THE LONG STRUCTURE WILL DISTORT AND CONVERT INTO SHORTS. ONE WHO IS ABLE TO SWITCH ONE'S SENTIMENTS AT RIGHT TIME BECOMES WINNER OF TRADING.
4. THIS WOULD BE THE FINAL UP JOURNEY. AFTER THIS LEG DOW WILL RESUME ITS INTERMIDIATE TREND .
5. LEARNERS SHOULD UNDERSTAND THE FORMATION OF CHANNEL. IT IS ALWAYS NOT ESSENTIAL TO FIND CHANNEL FROM LOWER BAND. SOMETIMES LOWER IS FORMED LATER.
REST MARKET WILL DECIDE.
YOGESH VATS
The bear are stronger on the american Index? Previously, we saw a bevel pattern on the Dow and SP. Now we may have the continuation of the bearish movement.
DOW JONES INDUSTRIAL AVERAGE INDEXDOW JONES INDUSTRIAL AVERAGE INDEX
Has formed a Evening Star DOJI if the red ink leaks the next day and closes below the doji low the chart can expect major down
something cooking in DOW JONES INDEX HEAD & SHOULDER PATTERN ON DOW JONES . WITH STOCHRSI GRAZING TOP & DOUBLE DOJI ON DAILY , WOULDN'T BE SHORTING $BTC NOW AS IT HAS INVERSE RELATION TO LEADING STOCK MARKETS.
