DJ30 is reaching the resistance level priced at 38850. From here, we will be shorting the market towards the first support level in continuation of the newly formed trend. It should be noted that the H4 candle was a bearish engulfing which means, there is a high chance for the market to continue down. 

The ascending trendline has broken out for sells and the market has validated the breakout. On the lower time frame another breakout sell if formed, we will take the short. 

There is no retracement level in this case.

EMA 50 is still bullish but the EMA 50 is ranging and hovering. But in a hindsight, we are still going to short the pair.

RSI is at 60. The market needs to dwell towards the over bought region where the technical parameters align with the technical factors for a continuation downwards.

DJ30 shorts from 38850

Feb 15 2024