DJIA: Daily Graph, Coppy and price in the upper part of the consolation channel
Lower high and price holds below diagonal resistance.
price action: Bearish reversal candle pattern - Three inside down
CCI(50) moves below 100 - negative signal
Moving to a lower Time Frame 4H
Price is moving below diagonal support, after which test on the break and turns negative
The price of the horizontal support 17562 - strong support. Only break below it and the bar close below these levels will give us a signal for short
CCI(50) moves below 0
RSI moves below 50
Alternate Scenario:
If the price moves above 17,717 will cancel the negative formation.
Stefan D. Angelov - Head of Stocks Trading
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