Short
Dow Jones carved a lower to just below 25000 handle
Dow Jones was expected to push towards 25000/200 levels, before reversing lower. The indice managed to print 24897 last Thursday, just shy of the fibonacci 0.618 retracement at 25150 handle. The drop has still not broken below immediate support around 22900 handle but we would favor a potential bearish reversal in place. Immediate price resistance is at 27100/200 handle and it would be safe to keeps stops around those levels. Probabilities are less but be prepared for a spike towards 25000/200 levels before a sharp reversal lower. It should be considered as another opportunity to initiate short positions. Ideally Dow Jones is expected to remain bearish until below 29600.
Strategy:
Short against 27200 (ideally 29600), targeting below 18000
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 27200 (ideally 29600), targeting below 18000
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.