DJIA: mid-term downward movement and a short-term long in the mapped channel on 4H
Short-term is a possible flag of the mid-term, but still no break.
Correction of the last downward move to 38.2% levels of Fibonaci
3 even maximums on the last two bars, which forms a line of resistance at 16265
Indicators are at negative territory CCI(50) under 0, RSI under 50
No price action signal for a short, but move stays negative and every fake break over 16265 is a possible entry for a sell
Possible places for new short positions around resistance levels of 25 EMA 16275-8
Stefan D. Angelov - Head of Stocks Trading
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.