DJI at a critical level - Bulls pray it doesnt break this 👿☠️👹
DJI aka Dow Jones Index has been sliding south for the last 7 days, but considering that it has been going up for last few months it is not surprising to see this kind of pullback. Now the issue becomes, will this index keep having losses till it collapses to the abyss or this magic line is going to save the trend and push the bulls up to the moon as they say? Lets dive into the charts and analyze.
This chart is straight forward, the Dow Jones Index has been following this trend line since November 2020 and now it is coming to retest the trend line. As I post this TA, it is kissing that line. To me it is not much of a concern until we close one daily candle below this line, if this happens it will be a warning shot and I may start re-evaluating my long term bullish positions.
On other indicators, daily PSAR looks bearish, price below 21EMA which is bearish but on the bullish side price is above both 50MA and 200MA and the blue trend line.
At the moment I am neutral and I am holding my positions until something changes. I will keep you updated as things change.
If you like these TAs, please smash the like button and share with your friends and other traders. Have a great week ahead.
XTF.
This chart is straight forward, the Dow Jones Index has been following this trend line since November 2020 and now it is coming to retest the trend line. As I post this TA, it is kissing that line. To me it is not much of a concern until we close one daily candle below this line, if this happens it will be a warning shot and I may start re-evaluating my long term bullish positions.
On other indicators, daily PSAR looks bearish, price below 21EMA which is bearish but on the bullish side price is above both 50MA and 200MA and the blue trend line.
At the moment I am neutral and I am holding my positions until something changes. I will keep you updated as things change.
If you like these TAs, please smash the like button and share with your friends and other traders. Have a great week ahead.
XTF.
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