Dow Jones is almost oversold on its 1D technical outlook (RSI = 31.431, MACD = -279.330, ADX = 39.462) and is approaching our TP = 37,300 that we called nearly one month ago. The target will be a direct hit at the middle of the long term Channel Up and approach the 0.382 Fibonacci. As long as the 1D MA200 supports, we will then reverse to buying, at least on the...
Pair : Dow Jones - DJI
Description :
Bearish Channel as an Corrective Pattern in Short Time Frame
RSI - Divergence
Break of Structure
Completed " 123 " Impulsive Waves
Support Level
Dear colleagues, I believe that wave "4" is not yet completed. To complete it, it is necessary to complete the double zig-zag. I expect that the movement "c" will end in the area of 37350, then I expect growth and the beginning of wave "5" with the goal to reach at least the resistance area of 38458. Be careful, perhaps wave "c" will be a bit shorter and it will...
As stated in this weekends video update, I expected us to retest the top of the red channel first, with potential to drop back inside the channel and test the bottom. The middle yellow channel is also a less likely possibility. I don't think we'll get down to the green again until AFTER we hit are WAVE 5 target and also, Inverse Head and Shoulders pattern target...
- DJI is currently encountering strong resistance at 34500.
- The psychological significance of this resistance level adds to its importance.
- This could be one of those, Go Big or Go home scenerios
- In case the resistance holds, a potential psychological support level at 33000 may come into play. The support trendline intersects at a similar level.
What is...
On this analysis we examine the Dow Jones index (DJI) from the longer term perspective of the 1M time-frame. A lot of market participants has started to get nervous because of this month's pull-back and this is the best way to keep a calm mindset and view the price action objectively. In order to see if the market has a legitimate reason to panic or not, the...
Hello Traders and Investors, today I will take a look at the Dow Jones.
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Explanation of my video analysis:
There is one major long term pattern which we have been looking at for a very long time - a rising channel formation. Just a couple of months ago the Dow Jones retested the lower support trendline and created a beautiful triangle breakout while...
Dear colleagues, the price has passed many points in the downward movement and at the moment I suppose that the price is completing the corrective wave "4" and very soon will start the upward movement in the wave "5". It is possible to update the low in the area of 38458 and then move to the resistance area of 39419. It is possible that the price will immediately...
Despite the fact that i calculated the dates, this is just my calculation and correction could easily end in 2033rd, but for now we are monitoring the index and in the future it will be clearer to us where we are, and idea can be updated.
According to my interpretation, the bull market ended in 2021 and now we are in a rising sideways leg, which should end at the...
CAPITALCOM:US30 has broken the last Higher Low after forming bearish divergence on RSI indicating potential bearish move. Moreover, It has also broken bullish trendline by forming new Lower Low. We can look for sells between fib 50-75% levels.
Hello Traders, Skyboxpips here
Amazon has been in a bullish trend and is near the $188 level with great bullish momentum.
We can anticipate Amazon reacting to the $188 level by a false breakout then sell to the short-side or a break and retest to the buyside.
I
Dow Jones (DJI) gave us an excellent sell entry following our last analysis (March 28, see chart below) as it got rejected and made a bearish reversal exactly where we expected it to:
Last Thursday it even broke below the 1D MA50 (red trend-line) for the first time in exactly 5 whole months (since November 03 2023)! This is a bearish break-out confirmation...
Outlook for DJI on 1M chart.
We are probably in sub-wave (c) of wave A.
I think the sub-waves of wave A might form an expanded flat or Running flat.
If this scenario is correct, It will probably crash.
Last time my idea.
■Feb 10, 2024. middle-term analysis.
Dear colleagues, it is possible that the price will update the local low and finish wave 4 a little lower, which means that we will have an opportunity to enter a long position more favorably! The target remains the same - to update the maximum of wave 3 39980.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dear colleagues, it is possible that the price will update the local low and finish wave 4 a little lower, which means that we will have an opportunity to enter a long position more favorably! The target remains the same - to update the maximum of wave 3 39980.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
(1) We have witnessed a sharp fall from 29,500 level in Feb’20. This was almost 38% fall from the top. Market had gone in a oversold zone.
(2) Around 18,300 level, price found a support and bounced back from this level.
(3) With an upside rally, price managed to breakout its previous resistance.
(4) After the breakout, we have seen a sharp upside rally further...
The old wall street adage! so goes apple....
Were at a pretty interesting level.
Are market makers going to make this breakdown in apple easy?
A head & shoulders breakdown is now on watch for a confirmed break.
This does imply a decent down move and will undoubtedly weigh on markets if it happens.
Keep an eye on the second largest company in the world.
👉By examining the trend in the four-hour time frame, the Dow Jones index, having a support in the range of 39956-39906, can increase to the resistance of the channel ceiling in the range of 40602
