empty
 
 
28.12.2018 04:02 AM
Technical analysis for Dow Jones for December 28, 2018

This image is no longer relevant

Technical outlook:

The 4H chart has been presented here for the medium-term analysis of Dow Jones Industrial Average. As discussed yesterday, the Dow Jones index rallied close to the 23,200 levels as seen on the chart. Please note that the index is trading very close to the resistance trend line and the Fibonacci resistance confluences with the 23,200/300 mark. Also note that the next Fibonacci target is seen towards the 21,300 levels as projected here. Immediate price resistance is seen at 24,000, while interim support is seen at the 21,800 levels, respectively. Ideally, the prices should remain below the 24,000 resistance and resume towards its downside target at the 21,300 levels. Please watch out for a bearish reaction around the levels of 23,200/300 in order to initiate short positions again.

Trading plan:

Short from 23200, stop at 24000, target 21300

Good luck!

Oscar Ton,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback