DJI SHORT end of 8.3.2019 Short trendchannels establishedDJI is now rading in he new short trendchannel
i have marked them with red lines.
These channel is split in a smaller more shorter range
i have marked ht upper line of that part of channel in purple and the its own lower side , marked in red.
So in a few words:
Between the lower red and the purple line
has been the shortest range.
1 Time Buyers have tried to put DJI out of them
but since end to 8.3. they have not really been succesfull.
We have to check on monday whether the next try which has been started at end of yesterdays trading (25548) will be now successfull.
That would be a first sign of a litte bit revocery.
Next step would be to get on the upper side and upper trendline
(upper red line) of the channel
If DJI reach the level of 25600 till end of monday trading
and climb avove that aerea the setup will going to neutral.
All below this is stay in short
Dji30
Dow Jones (DJI) Rising wedge formation$DJI
Big companies already done reporting earnings (which is 1 of the reasons for this rally), the closest noticeable big company - CISCO $CSCO reports Feb 13, apart from that no big dogs in sight for DOW
Currently watching rising wedge with targets: ~25k; ~24750; ~24650
Dow looking shaky on the daily currentlylosing 50 rsi on the daily and looks like toppy hanging man candle formation if the daily were to end now. could end up being wick but we lost the 50% retrace level we previously brokethrough.
on the bright side we did pop back up into this descending channel. while still bearish, it could range up quite high. thought we would see a bit higher in the indices before a correction but may be stuttering now
DJI 30 30KI have been waiting for this for such a long time. Finally we made a breath down so we can hop again. DJI world market stocks correction. -10% value. 100MA support. 38.2%FIB trump Rally. RSI oversold with signs for a correction. 78.6% FIB last leg of the move. Fundamentally everything looks perfect. Go for the 30K. 3 positions sizes with good RRR. Good Luck