Recreate the bearish run on DJ30. 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 61. 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.

Accumulating DJ30 shorts

Dec 28 2023

Stop Loss -0.53%

Holding time 22d5hr

37683.20

Entry price

37882.01

Stop loss price