Short
Major Correction US30 -Short-
Cautiously optimistic the Dow Jones (US30) has seen a rise in a rally fueled by a stellar than better stats of NFP values.
However, we can see values are lowering due to unforeseen buy back yields and less impressive resurging pandemic times.
The loom of surging covid-19 cases are on the rise and the 2.2 trillion USD infrastructure plan will put a dent in the USD index
as more funds are needed to secure a threatened economy.
Alternatively, if the bulls are needed for and to rally, a break of structure from the 33498 occurs then it is possible given the components of the us30 will yield stronger pushing it higher to the 33720-33910 areas. However, bearish momentum is still taking place though!
Short Term ; Bearish
33485 Entry
33115 TP
33601 SL
Mid Term ; Bullish
Long Term ; Bullish
However, we can see values are lowering due to unforeseen buy back yields and less impressive resurging pandemic times.
The loom of surging covid-19 cases are on the rise and the 2.2 trillion USD infrastructure plan will put a dent in the USD index
as more funds are needed to secure a threatened economy.
Alternatively, if the bulls are needed for and to rally, a break of structure from the 33498 occurs then it is possible given the components of the us30 will yield stronger pushing it higher to the 33720-33910 areas. However, bearish momentum is still taking place though!
Short Term ; Bearish
33485 Entry
33115 TP
33601 SL
Mid Term ; Bullish
Long Term ; Bullish
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.