The 40000 level remains elusive. April could be the start of a new correction.

To end my Finlogix analyses this Monday, I’m going to update the DJ30 index.

After holding the trade for 5 day and 18 hours, my April 2 trade plan has exited in another profit:

https://www.finlogix.com/analysis/20240402/dj30-intraday-analysis-and-trading-plan-for-april-2-2024

For the record, I’m now 2 wins and 1 loss.

There are 9 American major economic reports due this week with the markets eyeing crucial CPI figures on Wednesday.

Volatile sessions are highly observed throughout the trading week.

Re-assessing DJ30’s high timeframe candles:

Yearly Candle: Still a Green Body since last check but with a Longer Head Wick

Monthly Candle: Still a Red Body since last check but with a Longer Tail Wick

Weekly Candle: Previous close is a Red Body with a Longer Tail Wick current is developing a Small Red Body with a Longer Tail Wick

Daily Candle: Friday close is a Green Body with a Longer Head Wick current is developing a Small Red Body with a Longer Tail Wick

The pullback threats have continued in my last 2 analyses for the DJ30 index!

Over time, the 40000 level remains the index’s top resistance.

Meanwhile, in the 4H chart above, the bearish FVGs mentioned previously have continued their role in sending the price down.

We can also see an incoming bear crossing, (4H 50-SMA is about to cross down the 100-SMA) that might confluence a further fall.

Currently, the index's price is consolidating in a new range facing the 4H 200-SMA as resistance.

The index has a big and nasty 4H bearish candle formed last Friday and must not be ignored!

I was successful in my last trade plan’s take profit towards the 4H 200-SMA and price even dips below it!

The 39265 level is now a flipped support acting the new immediate resistance.

With an incoming bear cross, I like to observe a rally first back to the recently lost range.

I will short the rally attempts and if rejected strongly, the take profit targets the sell side liquidity under the lows last week.

However, if the current dips are just mere pullbacks for a new leg up, I’m setting the stop loss on the lower bearish FVG.

Plenty of volatility coming ahead this week.