DJ30 has been in a strong uptrend, with the formation of higher highs and higher lows. That being said, we need to see the retracement taking place at the level of resistance. This setup is risky as its against the trend and we are betting on the bearish side for a 200 points move. All other indications point to the bullish side.

The ascending trendline will be used in conjunction with the profit target being hit at the retest of it.

There is no higher time retracement on this pair. 

EMA 50 is super bullish and we can only take this bullish element as a potential profit target.

RSI is at 75. Its already in an over bought region and is forming a bearish divergence on the pair and it will align with the technical factors for the bearish side.

Shorting in an uptredn

Jul 19 2023