Short
Dow Jones meaningful top is in place around 24897 ?
Dow Jones has reversed sharply from 24897 highs last week, as expected. The indice remained shy by just over 100 points to test 25000 levels, the range was 25000/200 levels as discussed earlier. Dow Futures are trading close to 23920 levels for now and a break below 22900 would confirm that the trend has revered. Having said that, be prepared to sell more if prices reach the 25000/200 region, which is fibonacci convergence at multiple levels: fibonacci 0.618 retracement of Wave (1) on the chart, fibonacci extension of corrective Wave A on the chart, past support turned resistance as well. Structurally, Dow Jones remains a great candidate to be sold on rallies until prices stay below 29600 ideally.
Strategy:
Short against 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 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.