2nd rejection from the falling trend line.
The pattern normally completes, in such a case, and price tests the lower trend line.
Let's see how this develops.
TVC:DJI sharing important buy sell zones derived from analysing resistance/support zones on major timeframe to smaller time frame study.
dow has been struglling to move upward since it entered the monthly/daily sell zone and resistance are which dow has been unsuccefull to break since few weeks in past, unless we get something positive and strong news , dow may...
I was under a lot of pressure that my reputation which is brand new was on the line, all my channels I had posted GO SHORT GO SHORt GO SHORT and Indices moved higher so quick as never before. Incidences happen in Trading World by nano seconds and since the beginning I had confirmed absolutely in my analysis that whatever I have suspected is not for the near term...
I would like to share my analysis on the Dow Jones stock. Currently, Dow is facing stress at the 32587 level which is acting as a resistance. Based on my analysis, I believe it is a good time to take a short position from here. I predict that Dow is moving towards the 29534 level.
Thank you for considering my analysis. Best of luck with your trading.
DJ:DJI dow is all set to break weekly support and strt journy for mega correction in next coming weeks, be sure to take confirmation of support break and retest for positional short trade, might take a couple of days if support is not broken today, but it will break for sure.
Dow Jones Industrial Average Index Chart Analysis on Weekly Time Frame
Postive Signal
1. Up 2% on friday
2. Showing Trend change on weekly time frame
3. Given Breakout and Retest done to trend line
Target
1 . Possible Target - 36300
Stoploss / Breakout Fail
If Any weekly Candle closes Below...
On daily down first broke the downward trend line, then tested it & formed equal lows there. Whereas on hourly it is showing signs of a shift in market structure, it has already given a BOS & has formed its first HH & HL pattern. If it gives a 2nd BOS & forms another HH & HL then it will become buy on dips for the near term.
* DJIA Took a support at 20 EMA support on a 3M timeframe
* RSI is heading to a strong zone
* If RSI crosses the trend line then we will see big breakout
40000 Incoming!
DYOR! Please don't take any call based on my view.
Dow jones industrial Average index is in parallel since Jul 2021 in downward bearish move.
Looking at the past, it has good probability to bounce near gap area
