DJ 30 has been in an overall bearish trend with the formation of lower lows and lowers highs, ultimately on the verge of forming another impulse wave towards the bearish side. This newly formed resistance will be something we will be looking at for the bearish impulse and taking a short position at. 

The ascending trendline has broken out for sells and the market has validated the short positions. This is a confirmation for the market to continue moving down. 

EMA 50 is bearish and is above the price action. The curve is slanting downwards and the market has the potential to continue moving down.

RSI is at 39. It needs to neutralize at the 50 level. With this, the technical factors will be aligned along with the oscillator.

Looking to short DJ30

Jul 07 2023

Stop Loss -0.47%

Holding time 4hr

34025.67

Entry price

34186.92

Stop loss price