Home Technical Analysis Dow Jones Futures and the technical ping pong game
Dow Jones Futures and the technical ping pong game

Dow Jones Futures and the technical ping pong game

0
6

Dow Jones has fluctuated strongly during the previous despite being trapped within a sideways range during the previous period.

The recently drawn candlesticks reflect some kind of technical hesitation between the resistance line connected the movements from all-time high at 18270.00 and the support line set from 15775.00 as seen on the provided daily graph.

Dow Jones-05-05

Meanwhile, technical indicators continued to give off mixed trading signals, while SMA50 traded in the middle area between support and resistance, reflecting the trendless actions.

Short-term traders should be patient and wait until Dow Jones succeeds in breaching one of these lines to enter the market.

A sustained breakout above 18100.00 is a positive indication; on the contrary, blasting through 17710.00-17705.00 may bring panic sell-off actions.

(0)

Amir El-Araby Co-Founder & Chief Global Strategist at FxComment.com, with 17 years’ experience in the technical analysis studies for FOREX, Commodities and Indices. Amir El-Araby worked as a mentor for many companies and institutes, where he presented new methods for trading in the financial market. Amir is a member of ESTA (Egyptian Society of Technical Analysts). Amir is also the official partner of Harmonic Trader (Mr Scott Carney) and the official instructor of harmonic trader association for Arab countries.

Comment(6)

  1. Whats up vey cool site!! Guuy .. Beautiful ..

    Wonderful .. I will bookmark your blog andd take the feeds also?
    I am happy to find a lot of helpful information right here in the post, we want work oout exxtra strategies on this
    regard, thank you for sharing. . . . . .

  2. You can certainly see your enthusiasm withhin the work youu write.
    Thhe sector hopes for even more passionate writers like you whho aren’t afraid to mention how
    they believe. At all times folloow your heart.

  3. Wow that was strange. I just wrote an really long comment but after I clicked submit my
    comment didn’t show up. Grrrr… well I’m not writing all that
    over again. Anyways, just wanted to say fantastic blog!

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *