DOW JONES / +20% potential move if this year ends ATH green
This is a 6 month chart of the US30 (DOW JONES). We are in an uptrend for the last decades and if this year closes at an all time high or really close to the all time high, we are really likely to see bullish continuation. At the end of last year we saw global stock markets go down resulting in an retracement. This year has had it's ups and downs but the last months we are going up again and breaking the highs of the last quarter of 2018, which brings the market in another potential bullish move.
In the first 6 months of the year price closed really bullish which was a great first sign of a new move up. Then, price started to get down to the 25000 area and test it there, reject and move all the way up again. This means we have first a decent breakout candle of the first half of the year, then a rejection currently breaking all time highs which means it makes the 25000 area even stronger as a support.
With some political events such as the trade deal between the US and China december wont' be a really silent month so let's see what happens with the last month of this year.
I will keep this scenario updated.
Happy trading everyone!
In the first 6 months of the year price closed really bullish which was a great first sign of a new move up. Then, price started to get down to the 25000 area and test it there, reject and move all the way up again. This means we have first a decent breakout candle of the first half of the year, then a rejection currently breaking all time highs which means it makes the 25000 area even stronger as a support.
With some political events such as the trade deal between the US and China december wont' be a really silent month so let's see what happens with the last month of this year.
I will keep this scenario updated.
Happy trading everyone!