Dow Jones (US30) Analysis - Jan 2020

OANDA:US30USD   US Wall St 30
I am looking to buy in on this recent sell off on the Dow index.

Nice sell off happening with price making its way down to the bullish trendline shown on the chart. Price Is making daily higher highs and higher lows most months so I am looking to see rejections of the bullish trendline to go long.

Also in that area there is the 0.618 Fibonacci Retracement level and $26,000 key psych number.

*A break/close through the trendline would make the trade entry invalid.*

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Jan 27
Comment: Price is in the area of long positions and showing signs of turning. Keep an eye on this one this week.
Jan 27
Trade active
Jan 28
Comment: Trendline and $28,600 support appears to be holding strong. I anticipate price to begin to climb from here.
Jan 28
Comment: Strong bullish momentum coming in to play this afternoon. A nice daily candle closure should seal the deal for this trade.


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