Weekly chart:
The Dow was able to stabilize itself again in the past week without yielding any more for the time being. The threat, however, has not yet been averted. A slip down to the 20 LP from the monthly chart must always be reckoned with. On the way up to the top, the 20 LP from the weekly chart may well be considerably in the way.
Daily chart:
As expected, last week the price broke through the last point two at 17369 points and reached a new low at 17323 and with this, a new point two. Directly after this, the price started to correct itself again, but so far, however, it has become stuck at the 20 LP from the daily chart. In addition, the 20 LP from the weekly chart is passing through at approx. 17866 points. This, too, could also tempt more sellers into the market. Currently, the chances are more on the lower side.
Hourly chart:
The uptrend has, by now, been broken once more. However, no new downtrend has been able to assert itself yet either. But as soon as the mark at 17555 points is broken downwards by the closing price, a new downtrend will be established. Then there will be a higher chance that the prices will continue to sink.
I hope you will remain favorably disposed towards me and always remember: the journey is the reward!
All the best,
Markus Gabel
Head of Sales/Trading
AgenaTrader/TradeEscort
AgenaTrader Trading Software
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