US30 - Momentum stalling reversal?

16 thg 7, 2019

US30USD

Trade Idea

DOW30 - Intraday - We look to Sell a break of 27325 (stop at 27425)

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 27400. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. With our medium term bias looking to buy dips and the short term bias indicating selling interest we are faced with mixed signals. This has resulted in mixed signals and we prefer to trade a break.

Our profit targets will be 27125 and 27000

Resistance: 27403 / 27475 / 27541
Support: 27336 / 27200 / 27125