DJIA: Daily chart, choppy and a price at the upper part of the consolidation.
With lower peak than the others, the price holds below the diagonal resistance
Price action: Bearish reversal candle pattern - Three inside down
CCI (50) goes below 100- negative signal
Going on a 4H chart
The price goes below diagonal resistance, after testing the breakout and rotating down again.
Price at a diagonal resistance 17562- strong support. Only a breakout under it and closing the Bar below these levels will give us a signal for a short position.
CCI (50) goes below 0
RSI goes below 50
Alternative scenario:
If the price goes above 17717 it will break the negative formation
Stefan D. Angelov - Head of Stocks Trading
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