watch chart. us market on verge of a big big move to 36500+++ or below 30000 Disc : for educational purpose
US30 long from here when it changes character, look for FVG for long position.
Dow Jones trading at upper range of trendline currently and are resisting to cross from last 5 trading sessions, if it did not cross then you can take a short trade below the recent low with stop loss of current recent swing high.
DJI Bullish Butterfly Pattern PRZ 1 - 29018.55 PRZ 2 - 28990.27 PRZ 3 - 28850.85
#US30 is at important trend line. breakdown could lead to massive selling pressure.
A third touch on the top resistance line showing rejections. The market is failing to continue going up while minor bullish structure has been broken. A good opportunity to go bearish is approaching.
As per my analysis us30 will fall upto 5% as of 20-04-2023, it will invalidate if it goes above 1.5%
Completed the ABC pattern, Expecting sharp movement in either side.
Why analysis of DJI? It is mostly seen that Indian markets follow US markets as FII infuse lot of investment in our markets. However there psychology is to follow the trend in US markets. However it is not entirely true as Indian markets do spring to life and at times do there own trajectories. eg In end Sep DJI touched its pre Covid levels of 28700, however...
Need some consolidation here. Any further down move would be opportunity for buy the dips.
once again Dow price rejection at previously discussed several times as resistance and distribution area as shown in chart. Rejection is very clear with diamond pattern indicating bearish trend towards target of 32000 which is previous seen support.
DJ:DJI dow can bounce back from current support zone of 33340/33275, if breached then next support zone will be the target.
DJ:DJI dow jones can go upto33630/33690 above 33543, if breaks 33699.87 and styas above it, then dow can reacy upto 33862/33902 levels.
Perfect Bearish Gartley Sell Dowjones Between 33113 - 33353 SL - 33601 Target - 32900 / 32700 / 32500
DJI has broken down of a range consolidation and as per range the downside targets are marked on the charts. Most of the other details are clearly marked on the charts and overall weakness is visible in post today's candle close in US Market Previous DJI analysis are linked in related idea section