Dow Jones Index Mark Up
Today we're analyzing the US30!
Bias: Neutral
I would like to start off by saying that I'm in the middle due to me leaning more bearish than bullish. Why? Price Action is rallying back towards the high end of the curve where an untouched HTFZ ($27325-$29594) is waiting, but on the other hand I'm bullish with P.A's current movement for obvious reasons. I would expect price to repel off the PPZ ($24561) only to find support underneath at the continuation zone ($23197-$23634) and from there to print new HLs & HHs.
Confluence *Bull's Favor* (3 or more):
1. Interesting Price Action activity around the $18000 level. *Let me know what you think about this one*
2. Order Block formed ($20607-$25149) right before breaking above PPZ ($22127).
3. Price Action closed above Weekly 200MA. Significant.
4. Bullish Order Block formed ($23197-$23634) right below Weekly 200MA. Massive support.
5. 'V' shape return. *If unaware of this pattern be sure to research it*
I'm more bullish IF there's a B.A.R. of the $29594 level, but if price manages to reach the Order Block at the high end of the curve then expect it to be there for a minute considering it's size. We shall see.
Bias: Neutral
I would like to start off by saying that I'm in the middle due to me leaning more bearish than bullish. Why? Price Action is rallying back towards the high end of the curve where an untouched HTFZ ($27325-$29594) is waiting, but on the other hand I'm bullish with P.A's current movement for obvious reasons. I would expect price to repel off the PPZ ($24561) only to find support underneath at the continuation zone ($23197-$23634) and from there to print new HLs & HHs.
Confluence *Bull's Favor* (3 or more):
1. Interesting Price Action activity around the $18000 level. *Let me know what you think about this one*
2. Order Block formed ($20607-$25149) right before breaking above PPZ ($22127).
3. Price Action closed above Weekly 200MA. Significant.
4. Bullish Order Block formed ($23197-$23634) right below Weekly 200MA. Massive support.
5. 'V' shape return. *If unaware of this pattern be sure to research it*
I'm more bullish IF there's a B.A.R. of the $29594 level, but if price manages to reach the Order Block at the high end of the curve then expect it to be there for a minute considering it's size. We shall see.
Yorum:
The $23197 was breached which is a precursor. If Price Action happens to break the zone and head further down, I would look to see if the zone below holds for long opportunities. We shall see.