DOW JONES Neutral. Waiting for break out levels to trade.
Dow Jones is trading inside a Channel Down with the price currently contained within the MA50 and MA200 (1d).
A similar pattern in late December 2022 broke to the upside but be prepared to trade either direction based on the break-out that will prevail.
Trading Plan:
1. Buy if the price closes over the MA50 (1d).
2. Sell if it closes under Support (1).
Targets:
1. 34350 (under Resistance 1).
2. 31750 (Support 2).
Tips:
1. The RSI (1d) strengthens the view that the current price action is similar to December's. If it breaks over the MA trend line and rebounds on it (like January 5th 2023), it could be an additional buy confirmation signal.
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Notes:
Past trading plan:
A similar pattern in late December 2022 broke to the upside but be prepared to trade either direction based on the break-out that will prevail.
Trading Plan:
1. Buy if the price closes over the MA50 (1d).
2. Sell if it closes under Support (1).
Targets:
1. 34350 (under Resistance 1).
2. 31750 (Support 2).
Tips:
1. The RSI (1d) strengthens the view that the current price action is similar to December's. If it breaks over the MA trend line and rebounds on it (like January 5th 2023), it could be an additional buy confirmation signal.
Please like, follow and comment!!
Notes:
Past trading plan:
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Penafian
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