Yesterday, we observed the Dow Jones chart and we thought US Dow Jones might break up after an ascending triangle. However, the market sentiment is still very bearish due to concerns of crisis in the financial sector.
It formed a black candle near the break out resistance region. That show that the market has NO strength to move up.
We must observe the price action today in the US market as we also observed a bearish divergence on the volume pattern. If the price down below the ascending triangle bottom trendline, there is high possibility that the market is going to move back down.
Observing the market these days are real tiring as the market move up one day and move down the other day. That also sway the analysis up and down, it is a volatile market now and I think everyone should be extremely careful if you like to trade in today’s market.
Dow Jones Has No Strength
DISCLAIMER: This information is used for learning purposes only. It does not constitute an offer or solicitation to buy or sell. You should do your own analysis on top of my postings.
Welcome back to InvestMoneyLab, you can now join our Facebook Friend of InvestMoneyLab to get a FREE Book by T. Harv Eker Now! You can also receive latest profitable trading system and stock picks for free in future. Thanks for visiting!
