DJIA 15-Min Breakout Watch –Targeting 42,250 on Bullish Momentum
Dow Jones Industrial Average Index on a 15-minute timeframe. Here's the prediction and key details based on the chart:
Current Situation:
Price: 41,986.51 at the time of the chart.
Supertrend (10, 3): Indicates support at 41,690.11.
The price is approaching a resistance zone marked near 42,000.
An ascending channel pattern is in play, showing bullish momentum.
Forecasted Move:
The chart anticipates a bullish breakout above resistance.
Next Target: 42,250 if the price breaks above the resistance zone.
There’s a highlighted area (circle) indicating a potential breakout point.
Key Technical Note:
A breakout confirmation above the resistance level (~42,000) could trigger a rally towards the target of 42,250.
If resistance holds, the price might pull back towards the channel support or the supertrend level (~41,690).
Conclusion:
Bullish Bias in short term, contingent on breakout.
Watch for price action confirmation at resistance for entry signals.
Current Situation:
Price: 41,986.51 at the time of the chart.
Supertrend (10, 3): Indicates support at 41,690.11.
The price is approaching a resistance zone marked near 42,000.
An ascending channel pattern is in play, showing bullish momentum.
Forecasted Move:
The chart anticipates a bullish breakout above resistance.
Next Target: 42,250 if the price breaks above the resistance zone.
There’s a highlighted area (circle) indicating a potential breakout point.
Key Technical Note:
A breakout confirmation above the resistance level (~42,000) could trigger a rally towards the target of 42,250.
If resistance holds, the price might pull back towards the channel support or the supertrend level (~41,690).
Conclusion:
Bullish Bias in short term, contingent on breakout.
Watch for price action confirmation at resistance for entry signals.
Trade active
congrates target reached successfully
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.