Wed, Feb 08, 2023 @ 16:35 GMT
HomeContributorsTechnical AnalysisDJI30 Bearish Equidistant Channel In Progress

DJI30 Bearish Equidistant Channel In Progress

The DJI30 has been trapped in an equidistant channel suggesting further bearish continuation. Of course, continuation should happen if the price stays within the channel/PP boundaries, else there could be a spike to the upside. The POC 24390-24483 might reject the price to the upside targeting 24234 and 24179. Only below the channel bottom, the DJI30 might hit 23850 – strong weekly resistance. The upside might be exposed if the index breaks above 25000. Targets are 24774 and 24972.

W L3 – Weekly Camarilla Pivot (Weekly Interim Support)

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)

W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)

D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)

D L3 – Daily Camarilla Pivot (Daily Support)

D L4 – Daily H4 Camarilla (Very Strong Daily Support)

POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

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