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
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. Like ... Share... Follow... Stay Tuned...
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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.
Levels are marked in the charts Resistance = Orange Targets = Green
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...
DOW 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
Expect DJI to recover sharply in couple of weeks.
Support band is between 20887.2 to 22499.8
This is a very strong resistance right above us. Can short the down here with a 100 point stop looking for a 500 point gain. With a 1:5 rr its a good low risk opportunity.
Dow Jones Industrial Average - historical monthly chart analysis.
ALL MENTIONED IN CHART SHARK PATTERN SHOWING TARGET OF 20000
IHS in DJI 15 mins chart target could be 400 points if broken