DowJones - sell in may and go away !?
Updated
Dear traders and followers,
welcome to todays DowJones market analysis.
The market price confirmed higher lows and lower highs since 4/20 and the sales volume has been steadily increasing since then.
Since April 20, the market has also formed a triangle formation and the indicators indicate a continuation of the rising sales volume.
The generell market volume is declining since beginning of March which indicates and incoming bigger market move in near future.
We are currently seeing two possible price developments.
1. The price rises over 34,000 points in the next few days and closes above it on the daily chart. That would be a strong signal to buy.
2. The price falls below the triangle and closes below 33.500 points on the daily chart. This would have a correction up to at least 33,000 points according to. This is where the next support and a gap still to be closed and the 50 days EMA will be located. We think this variant is more likely as last week the dollar made a strong rise and break out of the down channel. A buy signal is generated as soon as the price stabilizes at 33.000 points. If this is not the case, the next stop is at 32.000 points but we think it is unlikely that the price will fall to this range.
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welcome to todays DowJones market analysis.
The market price confirmed higher lows and lower highs since 4/20 and the sales volume has been steadily increasing since then.
Since April 20, the market has also formed a triangle formation and the indicators indicate a continuation of the rising sales volume.
The generell market volume is declining since beginning of March which indicates and incoming bigger market move in near future.
We are currently seeing two possible price developments.
1. The price rises over 34,000 points in the next few days and closes above it on the daily chart. That would be a strong signal to buy.
2. The price falls below the triangle and closes below 33.500 points on the daily chart. This would have a correction up to at least 33,000 points according to. This is where the next support and a gap still to be closed and the 50 days EMA will be located. We think this variant is more likely as last week the dollar made a strong rise and break out of the down channel. A buy signal is generated as soon as the price stabilizes at 33.000 points. If this is not the case, the next stop is at 32.000 points but we think it is unlikely that the price will fall to this range.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support!
Trade closed: target reached
Note
market dumped hard after reaching our target.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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