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Technical Analysis of DOW JONES -- 100% Accuracy
 

Posted by admin on

March 20, 2016

Technical Analysis of DOW JONES – for the week of March 21st to March 25th ‘ 2016

Dow Jones & USA Markets had a great run from Mid-February. And finally for the year 2016, USA major indexes are positive YTD, after a bad start for the year.

Let’s see what charts are saying for Dow Jones. If this rally going to sustain or will it breakdown?

DOW JONES

SHORT TERM (Daily chart) – POSITIVE 

MEDIUM TERM (Weekly chart) – NEUTRAL (this week or next week will be very interesting)

LONG TERM (Monthly chart) – POSITIVE

 

Clearly, charts are indicating that Dow Jones has reached to the top end of range that started from July/August of 2015 to till date.

 

BULLISH SCENARIO – If 17,630 is clearly taken out by Bulls on Monday, then I expect 17,750 to 17,800 within a day or two. Next targets are 17,900 and 18,000 for this week. However, I see that market may pull back as it is little overbought. So, trade with caution if you are trading with short term focus. Of course, overbought can become overbought.  Rising wedge from Mid Feb to till date is another warning. Please note breakouts are little tricky to play & so please watch out for short term play.

 

BEARISH SCENARIO – I personally think that Bears will step up this week & give a good fight. If they don’t step up, then expect bulls to go on rampage this week. I expect Bears to step in around 17,800 levels or right here at current level 17,600. The first sign on Bears giving a fight will be, when 17,500 is broken & held.

 

CONCLUSION – This week should be very interesting. There are some big economic reports this week. Please check out this link http://www.tradingeconomics.com/united-states/calendar

I expect Bears to step up & give fight to bulls this week. Please refer to levels mentioned above for more details.

 

Thanks & God Bless!

Koomar

www.vcarefinance.com

 

UPDATE – How my analysis perform ? – Bulls could not take it beyond, 17,650 & as expected Bears stepped in. Brought it down to 17400. But Bulls fought on Thursday & by end of week it was kind of neutral week.

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