DJ30 is at an exhaustion point for its bull run. The market needs to take a breather from its solid bull run. The trend is still bullish but we are tapping a strong resistance area from where we had seen an earlier swing drop. We will be taking a similar position for shorts at the resistance level. 

The ascending trendline might breakout for sells or might simply retest the trendline and continue its course upwards.

There is no retracement level in this setup.

The EMA 50 is still bullish and we can use this as a profit taking level on our short positions.

RSI 14 is at 58. It needs to dwell towards the over bough region from where a bearish divergence can be formed and market aligns with the technical factors for the drop.

Short DJ30 from 37600

Dec 27 2023