DJ30 is at the weekly or monthly level of resistance. This level is going to reject the price for a correction or continuation down. The trend is solid bullish with the trend of higher highs and higher lows. We are just taking the sells based on the weekly levels.

The ascending channel has encapsulated the price action. The ascending trendline still needs to break out for sells in order to confirm the bearish momentum to continue moving down. 

There is no retracement indication in this setup.

EMA 50 is also bullish and if our setup is validated, the EMA 50 retest will be our profit booking.

RSI is at 77. It needs to form a bearish divergence in order to align with the technical factors.

DJ30 sells from resistance level of 36750

Dec 13 2023

Pending

Published 398d ago

42744.55

Current price

36728.00

Entry price