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


Powered by Blogger.

Welcome To Money Grows Network

Verified By

2006 - 2019 ©

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.



Expert In



Trading Signal for Dow Jones #INDU for June 29 - 30, 2021: sell below 34,291


In the American session, the Dow Jones Industrial Index #INDU is trading around the SMA of 21 and the EMA of 200, with a bullish bias, but showing signs of exhaustion.

In the chart, we have drawn a bearish channel of the Dow Jones. It is likely that it will try to break the 34,500 zone. A break above this level could cause an upward movement to the 35,000 psychological level.

In contrast, the strong 8/8 Murray resistance sits at the same price level of the 21 and 200 EMAs, which is currently trading around 35,239. Below this level there could be a correction to the 33,984 level of 7/8 murray zone and a fall towards the support of 6/8 murray at 33,593.

The Wall Street market will be attentive to the data of the NFP as it will determine market sentiment for the next weeks of July. If the data is good for the US Dollar, a correction of the Dow Jones could occur which is now at overbought levels. On the contrary, negative data could push it up towards the zone of 35,000 so that the index could break its historical mark.

In the chart, we can see that the market is hesitant about its sentiment about the Dow Jones. With a consolidation below the 200 EMA, we can sell. On the contrary, a consolidation above 8/8 of murray will trigger a bullish continuation signal and we can buy above 34,375, with targets at 34,500 and 34,765 (-1/8 of murray).

The reading of the eagle indicator shows that the Dow Jones is in the overbought zone. It is likely that in the next few days there will be a downward correction towards the 6/8 murray zone. Hopefully, the catalyst will be the NFP data that will be published on Friday in the American session.

Support and Resistance Levels for June 29 - 30, 2021

Resistance (3) 34,718

Resistance (2) 34,561

Resistance (1) 34,376


Support (1) 34,035

Support (2) 33,876

Support (3) 33,693

The material has been provided by InstaForex Company -