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Trading signal for DOW JONES 30 (#INDU) on November 15 - 16, 2021: buy above 36,000 (8/8 - SMA 21)

The Dow Jones 30 Tech Index is trading above the 21 SMA at 36,000 and above the line of 8/8 murray, showing a bullish bias.

On November 10, the eagle indicator touched the extreme oversold level at 5-points, from that level the Dow Jones is recovering and is now apparently ready for a new upward movement in the coming days.


On the 4-hour chart, we can see the formation of a bullish pennant. Given that it was broken a few hours ago, this technical pattern could give the index a new bullish momentum provided that it remains above 36,000.

The DJ30 has found good support at 8/8 murray around 35,937. As long as it remains above this level, traders still have buying opportunities. With a consolidation above this level, the index could gain momentum and reach resistance at 36,328 (+1/8) in the next few days.

On the contrary, a daily close below 35,900 could accelerate the fall of the Dow Jones towards the support of the 200 EMA located at 35,469. So, we must wait for the confirmation below 8/8 of murray.

Our trading plan for the next few hours is to buy if the DJ30 makes a technical bounce around the 21-day SMA with targets at 36,204 and up to 36,228. The eagle indicator is showing a bullish signal.

Support and Resistance Levels for November 15 - 16, 2021

Resistance (3) 36,376

Resistance (2) 36,326

Resistance (1) 36,189


Support (1) 35,974

Support (2) 35,896

Support (3) 35,753


A trading tip for DOW JONES 30 for November 15 - 16, 2021

Buy above 36,000 (SMA 21) with take profit at 36,204 and 36,328 (+1/8) and stop loss below 35,920.

The material has been provided by InstaForex Company -