Trading news

Dow Jones market prognosis for 17.06.2015

Overview: The Dow Jones can stabilize itself in the correction zone.


Daily chart:

The Dow Jones has plunged deep into its correction zone, but was, however, able to stabilize itself over the past two days, and just yesterday, it showed a strong trading day. Now, the two location points (20-SMA) from the week and the day are still opposing a new movement. If these points can be overcome, there is not much more standing in the way of a continuation of the trend.

Chart2

Hourly chart:

Thanks to yesterday’s strong trading day, the red downtrend was overcome. However, a new uptrend has not yet developed; for this to happen, a clearer correction and a new upwards movement are still needed. Looking at the big picture, this means that it is still too early for an entry.

Chart3

Intraday:

Here we can see a new uptrend, which in itself is on the move. But since the big picture is not yet providing any support, we do not currently have any trading opportunities so long as we are applying the Dow theory as our trading approach. For the moment, therefore, patience is required.

Chart4



Best greetings

Markus Gabel

Head of Sales/Trading

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Wednesday, 17 Jun, 2015 / 2:08

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