​DJI30 Bearish Equidistant Channel in Progress

June 25, 2018 11:19


Source: Admiral Markets MT5 with MT5SE Add-on

The DJI30 has been trapped in an equidistant channel suggesting further bearish continuation. Of course, continuation should happen if the price stays within the channel/PP boundaries, else there could be a spike to the upside. The POC 24390-24483 might reject the price to the upside targeting 24234 and 24179. Only below the channel bottom, the DJI30 might hit 23850 – strong weekly resistance. The upside might be exposed if the index breaks above 25000. Targets are 24774 and 24972.

W L3 - Weekly Camarilla Pivot (Weekly Interim Support)

W H3 - Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 - Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 - Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC - Point Of Confluence (The zone where we expect price to react aka entry zone)

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

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