The Dow Jones remains under pressure below the 52500-52600 resistance zone, with a potential slide toward support at 51290.
Dow managed to sustain drop last week while managed to close from support and target 51290
As we see over the chart, market facing resistance zone around 52500-600 where as long as market keep holding trades below it the drop scenario may continue to test 51290 which in turn may activate rebound correction
Above 52600 more advance is likely while resistance 53335 may hold the market
SUPPORT | RESISTANCE | |
LEVEL1 | 52000 | 52500-600 |
LEVEL2 | 51290 | 53335 |
LEVEL3 | 50500-600 | 54000 |
Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). Orbex LIMITED is licensed to provide Investment Services (Reception & Transmission, Execution and Dealing on own account) and Ancillary Services.
Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, the level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Comments
Log in or sign up to join the conversation.