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 resistance level at 37800 from where the shorts can be triggered. 

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 45. It needs to be neutralized at the 50 level to form a confluence at the technical factor. 

DJ30 shorts

Jan 03 2024

Stop Loss -0.67%

Holding time 11d18hr

37741.16

Entry price

37995.04

Stop loss price