DJI Potential for Bearish Momentum | 3rd November 2022
The price hit our sell entry at 33075.03, where the 78.6% and 23.6% Fibonacci lines are located, on the H4 chart. We've set a relatively safe stop loss at 34461.48, which is just above the previous swing high and the 100% Fibonacci line. The take profit will be set at 30775.37, which is where the 38.2% and 61.8% Fibonacci lines intersect.
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Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.