The_Cannalyst

Update: DJIA still caught in the Box

DJ:DJI   Dow Jones Industrial genomsnittsindex
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DJIA is still caught in the box. The H&S is perhaps passè. With the close above 18.100 (This Level perhaps negotiated the right shoulder), a shortterm-buyingsignal was generated with target @ 18.300. But beware: DJ closed near his box-upper edge. This Level is delicate to start a consolidation. Have a look @ the box-edges - These will generate nice signals!
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former analyisis: Since 4 months DJ is consolidating in his tradingbox 17600-18260. The Zone between the tradingboxes edges has a neutral character, But the edges of the box are good for scalping

Scalping ideas / Trading the support / resistance:
-Long @ 17.600/17.750 - target 18.300
- Short @ 18.300 - target 17.600/18.300

Break-away trading ideas:
-Stoppbuy @ 18.350 target longterm-uptrend top
-Stoppsell @ 17.800 (neckline) shortterm target : 17.600
-Stoppsell @ 17.600 target shortterm : Head-Shoulder projection= 17.200 / target middle/longterm: 50/61,8% fibo-retracement from 15.850-18.300 (normal/maximal-correction

The First shortterm buying-signal appears if Dow can close higher than his right shoulder @ 18.100 -shorttermtarget: 18.300
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