Trading news

Dow Jones – outlook via Dow Theory

Weekly chart:

In the big picture we can currently see a young, valid uptrend with a correction zone between 16663 and 15799 points. The current progressive low of this trend is at 17008 points. In the last trading week of the past year, the index showed its weak side again, which could indicate a continuation of the correction.

Chart1

Daily chart:

In the daily chart, we do not have a valid trend. After the break of the short-term downtrend at 17641 points, the index has been unable to form any newer high yet. This is why one should be careful with long trades, since a break in the trend would still be far from ushering in a new trend.

Chart2

Hourly chart:

In this trend size, the last few weaker days ensured a downtrend, which is currently in a movement. The last correction zone stretches between 17355 points and 17498 points. If the price runs back into the last red correction zone, one could enter a short trade from there.

Chart3

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

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.

Saturday, 02 Jan, 2016 / 8:21

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