YM, D1

D1 chart shows the correction of upward movement. The instrument is trading between the upper and center lines of Bollinger Bands. The price range is widened. MACD histogram is in the negative zone keeping a signal for opening short positions. Stochastic has crossed the overbought zone from below, forming a signal to open short positions; the oscillator lines are reversing downwards.

YM, H4

On the H4 chart, there is also a downward correction and the instrument is trading at the center line of Bollinger Bands. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below giving a signal for opening long positions. Stochastic is on the border with the oversold zone, the oscillator lines are directed downwards.

Key levels

Resistance levels: 25734.6, 25871.9, 26073.1, 26274.9.

Support levels: 25591.4, 25487.3, 25200.9, 24790.8, 24530.4, 24362.3, 24257.1.

Trading tips

Long positions could be opened from the level of 25734.6 with target at 26073.1 and stop loss at 25487.3 in the short term.

Short positions may be opened from the level of 25200.0 with target at 24790.8. Stop loss — 25487.3.

Implementation time: 1-3 days.

DJIA index of the American stock exchange

BuySellSpread
238872388070

Scenario

TimeframeDay's Range
RecommendationsBUY STOP
Entry Point25734.6
Take Profit26073.1
Stop Loss25487.3
Support levels24257.1, 24362.3, 24530.4, 24790.8, 25200.9, 25487.3, 25591.4, 25734.6, 25871.9, 26073.1, 26274.9

Alternative scenario

RecommendationsSELL STOP
Entry Point25200.0
Take Profit24790.8
Stop Loss25487.3
Support levels24257.1, 24362.3, 24530.4, 24790.8, 25200.9, 25487.3, 25591.4, 25734.6, 25871.9, 26073.1, 26274.9
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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