DJIA and SPX500 28.12.2016 D1 and H4 charts:
The likelihood for a correction by the US indexes increased after DJIA failed to break above 20 000. Now price made lower bottoms and bearish engulfing bars for increased probability for a downward impulses.
DeM(14) is overbought on D1 chart and reverses above 0,7 increases the probability for a correction.
Liquidity is low so we can wait the Asian hours for better levels for short positions. DJIA around 19930 with SL 20040 and SPX500 around 2260 with SL at 2280.
We remain with increased attention since declines are sharper and positivism is fading from markets.
Jr. Trader Nikolay Georgiev
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.