DOW 30: Short term Bullish
Updated
Currently @ 30,600
As the month comes to an end we expect some short term bullish movement just like
the previous month.
Bullish Scenarios
1. If Dow 30 breaks above 30,800 will expect it to test resistance @ 31,000 (38,2 % Fib Ret)
with a reversal back to 29,600 to complete a bullish harmonic on the 4H chart
2. If Dow 30 breaks above resistance @ 31,000 next resistance will be @ 31,300 (50% Fib Ret)
The month of July might reach highs of 32,350 (78,6 % Fib Ret) before continuing bearish
trend with next target @ 29,100 followed by 28,133 then 27,300 and 26,678.
Remember we are now in a Bear market any move to the upside will be short term
Positions
Buy Stop @ 30,100 - 30,600 closed, TP hit (last analysis link below)
Same positions in last analysis still active
New positions
Sell limit @ 32,200
Sell Stop @ 31,700
Sell Stop @ 31,300
Note: The two last positions/entries are only possible if 32,350 becomes resistance & highs of July 22
Link to previous analysis below
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
As the month comes to an end we expect some short term bullish movement just like
the previous month.
Bullish Scenarios
1. If Dow 30 breaks above 30,800 will expect it to test resistance @ 31,000 (38,2 % Fib Ret)
with a reversal back to 29,600 to complete a bullish harmonic on the 4H chart
2. If Dow 30 breaks above resistance @ 31,000 next resistance will be @ 31,300 (50% Fib Ret)
The month of July might reach highs of 32,350 (78,6 % Fib Ret) before continuing bearish
trend with next target @ 29,100 followed by 28,133 then 27,300 and 26,678.
Remember we are now in a Bear market any move to the upside will be short term
Positions
Buy Stop @ 30,100 - 30,600 closed, TP hit (last analysis link below)
Same positions in last analysis still active
New positions
Sell limit @ 32,200
Sell Stop @ 31,700
Sell Stop @ 31,300
Note: The two last positions/entries are only possible if 32,350 becomes resistance & highs of July 22
Link to previous analysis below
Note: this is just an analysis based on technical analysis & current events. All investments involve risk, our analysis and trading strategy does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make.
Note
Sell Stop Positions 31,700 & 31,300 have been closed @ 30,950, We still expect Dow 30 to be short term bullish, treating 30,900 as support & targeting 32,300 for July highs, our Sell Stop positions will be open again if Dow goes above 32,000.Note
Bullish harmonic on 1H as well as on the AO we seeing bullish signals, Dow 30 might treat this level as support or fall below this level.
Short term Buys
Buy Stop
@ 31,100
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