Im short on US3 and still long on NADSADQ, since the elections they have a negatvie correlation and this trade looks like a solid sell!
RSI is over bought, price rejected 38.2% of the recent high to low and created a rejection / reversal candlestick
Furthermore, a trendline has supported price heading to the levels and price moved slowly after a big drop...
We've gad some interesting action recently with the indices. Price broke ATH recently and wicked back into previous price. I believe this wick was to take out all the stops and grab liquidity from above. The daily candles which followed seem to be a bearish pattern forming. I have displayed a couple of potential long term targets.
Big divergence here on the rsi and macdh on the Dow hourly below a rising 200 moving average
Great buying opportunity, entered at 29370
Stop at the low of the long wick 29220
Expect a few hundred point move at least
we can see,
from the Monthly prespecive a strong Resistance line "TREND LINE",
Weekly, the price brom the Resistance line and confirmed it with red candle stick,
Daily we have strong Resistance area, the Red line, before reaching the new High price,
4H frame, i drew to white arrows, predecting the movement of the market, wait for the last confirmation from there,...