MG Network

something big isHappening!

In the mean time you can connect with us with via:

Copyright © Money Grows Network | Theme By Gooyaabi Templates

Money Grows Network

Archive

Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 © www.moneygrows.net

Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

Popular

Pages

Expert In

Name*


Message*

Trading Signal for DOW JONES 30, #INDU, for September 23 - 24, 2021: Buy if breaks 34,375 (bearish channel)

analytics614c9420eae3b.jpg

In the American pre-market, the technology index of the Dow Jones 30 (#INDU) is trading below 4/8 of murray and below the downtrend channel formed in 4-hour charts that is projected from 03 of September. If this channel is broken, the Dow Jones can rise quickly to the 200 EMA located at 34,781.

Yesterday, the Dow Jones managed to consolidate above the 21 SMA located at 34,036, following the Fed's interest rate decision and subsequent comment from Fed Chairman Jerome Powell. Today the index is testing the downtrend channel. If the upward force prevails, a new upward momentum is likely for the Dow Jones in the next few hours.

The key point we can highlight from the Fed announcement is that they could announce the start of the gradual reduction of bond buying at the next meeting if the economy continues to grow at a healthy pace. This will undoubtedly be good news for the Dow Jones that could rise to the 35,500 level in the short term.

According to the daily chart, the main trend of the Dow Jones is bullish, but in 4-hour charts it is bearish, since it is located below the 4/8 murray line and below the 200 EMA located at 34,781. The bearish channel that began on September 3 has prevented the Dow Jones from a further rise. With each failed attempt to break the top of the channel, the Dow fell to lower lows.

A few hours ago, the Dow Jones tested the downtrend channel and could not break, since the eagle indicator is showing a bullish signal, a correction to the 21 SMA would be a good opportunity to buy at 34,736.

Conversely, a sharp break above 4/8 murray and above the downtrend channel will be a good opportunity to buy the Dow Jones with targets at 34,781.

Support and Resistance Levels for September 23 - 24, 2021

Resistance (3) 34,753

Resistance (2) 34,565

Resistance (1) 34,435

----------------------------

Support (1) 34,227

Support (2) 34,039

Support (3) 33,984

***********************************************************

Trading tip for DOW JONES for September 23 - 24, 2021

Buy if rebound 34,036 (SMA 21) with take profit at 34,375 (bearish channel) and 34,765 (EMA 200), stop loss below 33,950.

Buy above 34,375 (4/8 and bearish channel) with take profit at 34,765 (EMA 200), stop loss below 34,290.

The material has been provided by InstaForex Company - www.instaforex.com