DJ30 has been in a bullish trend with the formation of higher highs and higher lows. The market is on the verge of breaking out from the resistance level and is re-tapping the support. Once th bullish price action is formed, the market is going to continue to move up. We have the potential to tap 35000 as a profit target. We will buy again at the support level priced at 34890. We are looking at the resistance level to take profits.

The descending trendline has broken out for buys and the market has validated the buys. The ascending trendline will retest and from there, the market can continue moving up.

There is no retracement level on this pair right now.

EMA 50 is bullish and the EMA 50 has not been retested as of now. Therefore, there the upward curve of the pair has the potential to tap it into the 35000 benchmark.

RSI is at 55. It needs to neutralize at the 50 level in order to align with the technical analysis of the price action.

Buying dJ30 on trendline breakout buy

Sep 04 2023