Dow Jones: A Weekly Close Above 34200 Is A Buy Signal

JUNE meets strong resistance at 13350/400. Obviously shorts need stops above 13550 today! Strong resistance at 13750/800. Shorts need stops above 13900.

Again we have some support at 12900/850, although not strong. Longs if you feel brave, need stops below 12750. A break lower is an important longer term sell signal & we could initially drop 500 ticks, perhaps 750 ticks.

JUNE a high for the day exactly at strong resistance at 33900/34000. Shorts need stops above 34200. A weekly close above here is a buy signal for next week targeting 34700/750. Expect strong resistance at 34800/900.

Shorts at at strong resistance at 33900/3400 targets 33700/600, perhaps as far as 33250/150. If we continue lower look for 32750/700 then strong support at 32400/300. Longs need stops below 32100.

Source link

Comments are closed, but trackbacks and pingbacks are open.