Trading news

Twitter – prognosis via Dow Theory

Weekly chart:

The current downtrend in the big picture is far into its movement, and reached its current low point of $ 15.48 last week. The currently valid correction zone goes from $ 21.01 to $ 31.87 (red rectangle). A correction into this zone is very likely. However, so long as the price cannot exit this zone upwards, the downtrend will remain intact and along with this, the probability of a continuation of the trend also remains very high.

Daily chart:

In this trend size there is already a mature trend that is positioned deep in the last correction zone. The upper limit lies at $ 19.04. If this marker is broken by the closing price, a larger correction would be very likely.

Hourly chart:

What is still missing in the daily chart has already happened in the hourly chart. Here the downtrend has already been broken and a new course high was generated at $ 19.03. Right now, the price is in the correction. To establish a new trend, a new high above $ 19.03 is needed. Only then could one consider a new trade here.

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.