Is a correction looming on the DOW?

27 nov 2019

What are your thoughts? Are you expecting a correction on the DOW anytime soon or do you think the rally will continue? Please post your thoughts in the comments below.

SHORT - US30USD
SL: 28347.3 (Suggested by our algorithmic system)
TP: 27679.2 (Suggested by our algorithmic system)

Reasons behind this idea:

1. Bearish divergence on MACD and RSI indicators

2. Volume volatility is looking flat compared to recent history

3. Price is retesting a resistance level


---------- Chart Drawings ----------

Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system

Trade idea from our mobile app: ibb.co/JyQb2HD (Timestamp is in Australian Sydney Time UTC+7)

Please trade responsibly and good luck!

3 dic 2019

Trade chiuso: obiettivo raggiunto