DJ30 is ranging in a bullish structure and a bullish trend. The structure is higher highs and higher lows and the market was unable to break it towards the lower side to ascertain its bearish side and momentum. Therefore, we will be looking to go long at the support level priced at 34600. This is the level for us to go long and continue all the way towards the upper resistance of 35000.

The ascending trendline has been rejected by the ranging market and there is no breakout buys in play at the moment. Once the market retests the support, it will continue moving up.

There is no retracement setup as the market is ranging.

EMA 50 is bullish as well and the market has retested the point of reference at the support level. The confluence will be formed.

RSI is at 55. It needs to neutralize at the 50 level in order for the market to align with the technical factors.

Hard bound DJ30

Sep 14 2023