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Could price bounce from here?US30 is falling towards the pivot which has been identified as an overlap support and could bounce to the 1st resistance which is a pullback resistance. Pivot: 41,602.08 1st Support: 41,136.87 1st Resistance: 42,191.55 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:US30Long
by ICmarkets
Mid Week Analyses 25/09/24 As I mentioned in my previous posts, price would take out the highs at NSYE open before beginning its retracement. Great sell if anyone caught a sniper entry from the highs. Following the correction today, a 10H HL was signalled at 41,917.9 as the biggest TF with a type of low. Despite signalling a 10HL, the smaller TF such as the 7H and 8H failed to signal their respective HL. Furthermore, the 10H HL did not reach the 23.2% fib level. This indicates that there is potentially more selling to happen that we need to be aware of. Historically once a HL has not been signalled on a smaller TF but is signalled on a bigger TF, this can mean one of two things: 1. Price will resume its downtrend after signalling a LH on the smaller TF to fulfill the HL on the missing timeframes. 2. Price will make new ATHs forgoing the HL on the missing TFs, but these new ATHs will soon reach a level of exhaustion before committing to an even bigger correction. 7H chart showing no HL signalled 10H chart showing HL signalled Going forward: Given the current bullish pressure, I have closed my sell positions and entered a buy position since price is clearly respecting a level of support on the smaller TF. I will monitor the bullish momentum accordingly to observe for signs of retracement. Using my fibs, it is possible that price can signal a LH on the smaller TF at 42,149.8 - 42,205.3 before resuming its downtrend to make a LL. If not, price will continue bullish to make new ATHs forming a double top region before resuming its downtrend to form a bigger correction.
OANDA:US30USD
by jhannellefrancis
1
Dow Jones Industrial Average (US30) - 1D Chart AnalysisThe Dow Jones (US30) is in a strong uptrend, nearing a key resistance zone around 41,886 USD. Fibonacci analysis highlights critical levels that can help identify potential support and resistance zones. Meanwhile, the TDIGM indicator signals overbought conditions, suggesting a possible short-term correction. Key Levels: Resistance: 41,886 - 42,313 USD (Fibonacci -0.272 extension). Support: 40,594 USD (Fibonacci 0.236) and 39,701 USD (Fibonacci 0.5). Critical Lower Zone: 38,009 USD (previous significant low and potential correction target). Technical Indicators: The TDIGM is showing overbought conditions, with lines above the 60 mark, indicating that the market may be nearing exhaustion. Price is slightly above the support-moving average, implying the uptrend is still intact but could face selling pressure at current levels. Investment Strategies: 1. Short-term Sell Strategy (Correction Bet): Sell Entry: Between 41,800 - 42,000 USD, anticipating a correction after the recent rally. Stop Loss: Above 42,313 USD, to protect against an upside breakout. Take Profit: Target support zones at 40,100 USD (Fibonacci 0.382) and 39,701 USD (Fibonacci 0.5). 2. Medium-term Buy Strategy (Support Retest): Buy Entry: Between 39,701 - 40,100 USD, aiming for a rebound after a correction to these Fibonacci levels. Stop Loss: Below 39,300 USD to manage downside risk. Take Profit: Target resistance at 41,800 - 42,000 USD, with potential to extend to 42,313 USD if momentum builds. 3. Buy Breakout Strategy (Uptrend Continuation): Buy Entry: Upon a clear breakout above 42,313 USD. Stop Loss: Below 42,000 USD to mitigate risk. Take Profit: Extend targets to 43,000 - 43,500 USD, forecasting further bullish continuation. The Dow Jones (US30) is testing key resistance. Despite signs of overbought conditions suggesting a possible correction, the strength of the uptrend cannot be ignored. The strategies outlined aim to capitalize on both short-term corrections and potential breakouts, with well-defined entry and exit zones. 💡 Follow me for more insights and high-probability trading strategies!
CAPITALCOM:US30Long
by MrVNpt
DOW JONES: At the top of the six month Channel Up.Even though Dow Jones has reached the top of its Channel Up pattern, it remains on very balanced bullish technicals on the 1D time-frame (RSI = 62.120, MACD = 487.030, ADX = 32.488). Our trading plan will be based upon breakouts. As long as the price remains under the top of the Channel Up and over the dashed trendline of the August wave, it is a no action (do nothing). If it crosses above the top of the Channel Up, it's a buy (TP = 43,500) as most likely we will see an extension of the wave to a new +8.28% rise. If the price crosses under the dashed trendline, its a sell (TP = 40,900) to the 1D MA50 at least. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
POSSIBLE 5th WAVE TOP WE Min targets have been met. The chart posted is that of the Dow Jones avg . I can now make a strong case that todays high can be the End of the rally from Oct 13 low 2022 the min target was 41958 and could have even reached as high 43100 based on the wave structure I feel it is time to be 90 to 100 % Longs PUTS . See the RSI not reaching new highs and that the QQQ is having a great deal of trouble at my 486 /494 . As to the SOX index I called for a wave C up to end wave B and form the Right shoulder in My weekly head n shoulder TOP .I have thought we could hold up into 9/30 to ideal date of 10/2 I see a Major Event the week of OCT 11 to the 19th . I have told everyone to View the 2007 top formation . BEST OF TRADES WAVETIMER !!!
TVC:DJI
by wavetimer
Dow Jones tests upper band of channelThe Dow Jones trades within a rising channel. The price has risen to fresh record highs above 42.2k and is running into the upper band of the rising channel, dating back to the start of April. The RSI is on the brink of overbought territory, so buyers should be cautious. A rise above the trendline resistance opens the door to a 43k round number. On the downside, support is seen at 41,565, the August high. It would take a fall below 40k to create a lower low.
FOREXCOM:US30Long
by FOREXcom