DOW at a massive resistance level (re-test of broken channel?)
Hi Traders,
The DOW is at a MASSIVE level because: On monthly/weekly it looks like it is re-testing broken channel. On the Daily he is touching some trend lines and on 4HR chart; it looks like 5 waves up.
I will be looking this chart very close to see if we can get a bearish candlestick formation and rejections to confirm that a top might be in place. However, risk must be very tight here because this market is driving by QE but I do not know until when.
Also, you are invited to join my chatroom which is FREE until the 12th of November. Just send me an email and I will add you there!
I hope this helps!
Thiago Duarte
Chief Strategist at Duarte Investment Group (DIG)
thiago@duarteinvestmentgroup.com
@thiagotrader
The DOW is at a MASSIVE level because: On monthly/weekly it looks like it is re-testing broken channel. On the Daily he is touching some trend lines and on 4HR chart; it looks like 5 waves up.
I will be looking this chart very close to see if we can get a bearish candlestick formation and rejections to confirm that a top might be in place. However, risk must be very tight here because this market is driving by QE but I do not know until when.
Also, you are invited to join my chatroom which is FREE until the 12th of November. Just send me an email and I will add you there!
I hope this helps!
Thiago Duarte
Chief Strategist at Duarte Investment Group (DIG)
thiago@duarteinvestmentgroup.com
@thiagotrader
