Dow Jones 30 is still in a bullish position but we are anticipating for the break and stall at the resistance level. This level will act as a caveat to drop the DJ30 almost 300-400 points. We are eying this level for our sniper entries. It should be noted, we are only taking the retracement trade on this setup as the trend is still bullish.

Market has constructed a flag pattern with both the ascending trendlines being formed as support and resistance level.

The monthly retracement of 61.8% falls in place of confluence with the resistance level. It will impact majorly on the drop.

EMA 50 will act as our profit target upon the retracement.

RSI is still at 63, slightly below the over bought region. This region needs to head into the over bought region, where market can form a bearish divergence in part with the technical factor of the resistance level.

DJ 30 another short level

Jun 16 2023