DJ30 : The Index is trading at its Resistance Zone and at 15 min time frame we can see an Engulfing Pattern. Engulfing Patterns at the Top or Bottom are the Reversal Pattern.

There's an opportunity to sell the index with SL of 35030.

RSI is supporting the move and Macd crossover is also a good sign to go for a short, Stock closing below the EMA will give us another confirmation for selling.

If the index close above the resistance the move on the upside can be expected as well.The only condition to buy would be when the RSI also support the move.

In upside we can see MACD Crossover and above 0.

Index trading above the EMA and Ema directing the trend would be another confirmation.

The Index will be trading above the Ichimoku cloud as well when the index sustain above the Resistance Line (marked as red)

Advice : I would rather Sell instead of buying, have given both the conditions. Opportunity is great on selling as SL is within 1% and Return is more than 2% 

Selling Opportunity.

Jul 16 2021

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