By Admiral Markets
Source: Admiral Markets MT5 with MT5SE Add-on
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)
Free Reports:
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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Article by Admiral Markets
Source: DJI30 Bearish Equidistant Channel in Progress
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