Dow Jones (DJI) has been trading within a Channel Up for almost 9 months and 2 weeks ago (January 07, see chart below) we gave a strong Sell Signal on its Top:
Yesterday the price broke below its 4H MA200 (orange trend-line) for the first time in 2 months and this confirms the extension of the current Bearish Leg. We slightly modify our Target on the 47800 Support exactly, which is almost a -4.00% decline from the Top and will also test the 1D MA100 (red trend-line), which is the long-term Support of the pattern.
The 36.50 1D RSI Support is where the last two Channel Up bottoms where priced, so keep an eye on that too.
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Yesterday the price broke below its 4H MA200 (orange trend-line) for the first time in 2 months and this confirms the extension of the current Bearish Leg. We slightly modify our Target on the 47800 Support exactly, which is almost a -4.00% decline from the Top and will also test the 1D MA100 (red trend-line), which is the long-term Support of the pattern.
The 36.50 1D RSI Support is where the last two Channel Up bottoms where priced, so keep an eye on that too.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.