The Dow Jones shows signs of a reversal toward the 48500 support zone after meeting resistance at 53000.
The Dow managed last week to break above the resistance of 52275 and advanced towards the target 53000 reversing below the resistance trend as we see from the chart.
Prices are still showing signs of a further drop that could hit the market towards the 48500 zone.
Above 53000 more advance would be likely toward 55000.
SUPPORT | RESISTANCE | |
LEVEL1 | 50800 | 53000 |
LEVEL2 | 49700 | 54000 |
LEVEL3 | 48500 | 55000 |
Orbex Group Limited is the holding company of Orbex Global Limited, Orbex Limited is an affiliate with Orbex Global Limited. Orbex Global Limited is authorized and regulated by Mauritius Financial Services Commission “FSC” (View License). Orbex.com is owned by Orbex Group Limited and is operated by Orbex Global Limited with registered address: Ground Floor, The Catalyst, Silicon Avenue, 40 Cybercity, 72201 Ebène, Republic of Mauritius
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, 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. Orbex Global does not offer its services to residents of certain jurisdictions such as Mauritius, USA, and North Korea.
Comments
Log in or sign up to join the conversation.