US30 - Intraday dip buying idea

17 thg 7, 2019

US30USD

DOW30 - Intraday - We look to Buy at 27300 (stop at 27275)

Price action resulted in a new all-time high at 27403. Momentum is stalling with the posting of new highs and indicates bearish divergence. Prices have reacted from 27403. The medium term bias remains bullish. Further upside is expected although we prefer to set longs at our bespoke support levels at 27300, resulting in improved risk/reward.

Our profit targets will be 27400 and 27475

Resistance: 27403 / 27475 / 27541
Support: 27340 / 27300 / 27280