Signal_Centre

DOW - Inverse head & shoulder attracts

Long
FX:US30   Dow Jones Industrial Average Index
DOW30 - Intraday - We look to Buy a break of 24050 (stop at 23970)
2 consecutive positive sessions have been posted. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. We look for a temporary move higher. A Morning Star formation has been posted at the low. Further upside is expected, however, due to the strong resistance above we prefer to buy a break of 24050, which will confirm the bullish sentiment.
Our profit targets will be 24290 and 24400

Resistance: 24045 / 24300 / 24400
Support: 24600 / 23775 / 23600
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Comments

do you do any fundamental analysis? and pay attention to any news, announcements etc? one tweet from Donald trump throws the whole tech analysis to pieces i think, not sure if the tech analysis even fully works in this market..
Reply
Signal_Centre virtualtechie11
@virtualtechie11, Thanks for your questions. We listen to news, look at fundamentals and company announcements and utilize Technical Analysis. Trump tweets have a short term impact on markets but very little impact on the overall trend unless he is implementing a policy shift which no analysis can pick up. What do you use?
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