In the opposite direction to the Nasdaq situation we have here now the DJI.
DJI is still caught in the bigger short channel i have marked in red lines.
He tried to go out at end of yesterday and start of todays trading but
the outbreak failed.
Now the upper line (i have matrked the channel in red lines)
is the important resistance line for the ext trading days.
Unfortunately for the bulls the yesterday established
long trendline has been broken today (now in orange color)
That not a strong sign.
It is to exspect either a fall dwon in the trend channel or a
sideways go out, but also these possibility is NOT a long
setup.
If that occures we have to check the situation new
whether there comes up a new long trendlie or similar strong signs
or not.
So for now situation is still Short in the channel
--This information is not a recommendation to buy or sell. It is to be used for educational purposes only .Alllways do your own research---
DJI is still caught in the bigger short channel i have marked in red lines.
He tried to go out at end of yesterday and start of todays trading but
the outbreak failed.
Now the upper line (i have matrked the channel in red lines)
is the important resistance line for the ext trading days.
Unfortunately for the bulls the yesterday established
long trendline has been broken today (now in orange color)
That not a strong sign.
It is to exspect either a fall dwon in the trend channel or a
sideways go out, but also these possibility is NOT a long
setup.
If that occures we have to check the situation new
whether there comes up a new long trendlie or similar strong signs
or not.
So for now situation is still Short in the channel
--This information is not a recommendation to buy or sell. It is to be used for educational purposes only .Alllways do your own research---
