WinnerTrader99

SHORT $DJI Dow Jones Its going down to confirm Support above 24k

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WinnerTrader99 Uppdaterad   
DJ:DJI   Dow Jones Industrial genomsnittsindex
WEEKLY CHART... With regards to last week Bullish candle which was with very low volume on last week of August showing bearish pattern similar to what happened on Sep-Oct last year , Call it Bull trap ! Perhaps next week will fall down to test previous bottom at 25300 and then if RSI break down REd line this will be very negative signal and decline will be extended for other 4-6 weeks . Now RSI bounced from this line 3 times but if break it down then it will be confirmation for Bearish trend targeting lower than June Bottom which i suggested area above 24000 . If we look to stochastic also we can COPY past pattern with last year decline which suggest also other 3-4 weeks decline till bottomed on area of 20-30 .. But any thing can be happen as we approach very important FED decision on 18th Sep which around 3 weeks from now and IF the expectation going for further rate cut higher than 25 points then its possible to see bullish reversal targeting new all time record before sharply falling down .. Next 2 weeks will confirm the coming trend for coming months ..
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