YM, D1

On the daily chart, the downward movement is in the correction, the instrument is trading near the lower border of Bollinger bands, the price range is expanded, indicating a likely resumption of price reduction. MACD histogram is in the negative region, the signal line crosses the zero line and the body of the histogram downwards, forming a signal for opening short positions. Stochastic is in the neutral zone, the lines of the oscillator are directed downwards.

YM, H4

On the 4-hour chart, an upward correction is also observed, the downtrend is still in force, the instrument is trading between the middle line and the lower border of Bollinger bands. MACD histogram is in the negative region, keeping the signal to open short positions. Stochastic is on the border with the oversold zone, the oscillator lines are reversing upwards.

Key levels

Resistance levels: 25099.8, 25357.1, 25567.7, 25871.9.

Support levels: 24764.4, 24522.6, 24136.3, 23993.0, 23750.6, 23530.2.

Trading tips

Short positions can be opened from the current level with the target at 23993.0 and stop loss 25099.8. Implementation period: 1–3 days.

Long positions can be opened from the level of 25357.1 with the target at 25871.9. Stop loss is 25099.8. Implementation period: 3–5 days.

DJIA index of the American stock exchange

BuySellSpread
245752456870

Scenario

TimeframeDay's Range
RecommendationsSELL
Entry Point24811.0
Take Profit23993.0
Stop Loss25099.8
Support levels23530.2, 23750.6, 23993.0, 24136.3, 24522.6, 24764.4, 25099.8, 25357.1, 25567.7, 25871.9

Alternative scenario

RecommendationsBUY STOP
Entry Point25357.1
Take Profit25871.9
Stop Loss25099.8
Support levels23530.2, 23750.6, 23993.0, 24136.3, 24522.6, 24764.4, 25099.8, 25357.1, 25567.7, 25871.9
YM: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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