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Dow Jones – outlook via Dow Theory

Weekly chart:

The big picture is showing a valid downtrend with a correction zone between 17354 points and 17906 points. By now, the price has landed in this correction zone, but the index has not yet been able to decide on a clear direction. The 20 SMA from the monthly chart is still providing support from below.


Daily chart:

We can see a nice uptrend in this trend size. The last correction led the index exactly back to the last point two, where it found additional support in the form of the 20 SMA from the weekly and monthly chart. Now the price is clearly in a movement once more and is attempting a breakout above the last point two. Here, the short-term chances are clearly located on the upper side.


Hourly chart:

The past few weaker days have produced a downtrend in this trend size, which is currently in a movement. The last correction zone reaches from 17716 points to 17794 points. As long as this zone cannot be dispelled by an upwards movement from the closing price, I would be careful with long entries.


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 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.

Tuesday, 24 Nov, 2015 / 9:51

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