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Dow Jones market prognosis for calendar week 28/2015

Overview: for the time being, the Dow Jones can be viewed as trendless.

Chart1

Daily chart:

The Dow Jones is continuing its downtrend and is starting off the week with a significant down gap. With this, the current correction zone is located between 17611 points and 18109 points. As long as the price stays within this zone, a continuation of the downtrend is to be reckoned with.

Chart2

Hourly chart:

Logically, the hourly chart also remains in the downtrend. The situation in Greece is not leaving the US market entirely unaffected either, meaning that the market started with a large gap down. However, this was immediately closed again at the start of trading, indicating a certain strength in the market. At 17737 points, the end of the correction zone with point three is relatively far away, so that there is still enough space to turn back in a southerly direction. However, if the point three is broken through by the closing price, then the short-term direction should change.

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All the best,

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

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Monday, 06 Jul, 2015 / 3:57

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