VIEW ON DOW JONES
ITS FALLED TOO MUCH AND ARRIVED AT THE MAJOR SUPPORT
IN PAST THE GREEN LINE IS TESTED TOO MUCH TIMES AND ITS NOT EASY TO BREAK THE MAJOR SUPPORT ZONES,
LONG IT UNLESS AND UNTIL THERE IS NO SUCH VERY BAD NEWS EXIST
For the week 20-24 July
Bullish above 26728
Bearish Below 26447
View Likely to be consolidation mode
May flare up on any Stimulus Package move.
Corona Pandemic 2nd wave can keep bulls incheck.
This study is in context with the monthly view on Dow in the attached chart below.
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Although the month is still to finish, a rejection at the EMA in the monthly chart is an indication of the completion of the retracement.
In the daily chart, Dow has exhausted a gap with a falling gap and has tested it.
Prices are going to fall further.
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...