Dow Jones – The monthly candle is up

Dow Jones – Die Monatskerze steht | Nachricht | finanzen.net

The month of June is history and with it the monthly candle is now also in the Dow Jones Industrial Average®. Since the index has recently moved significantly away from the June highs, this candle also makes a rather bearish impression. However, the recovery in the last few days has led to the candle body at least standing there in white. A month-end price in the area of the monthly lows was avoided.
The month of June is history and therefore the monthly candle is now also in the Dow Jones Industrial Average®. Since the index has recently moved significantly away from the June highs, this candle also leaves a rather bearish impression. However, the recovery in the last few days has led to the candle body at least standing there in white. Most recently, the Dow Jones Industrial Average® defended, albeit only with a vengeance, an upward trend variant since April. This gives buyers the chance of a continued recovery. In yesterday’s trading, the index closed slightly above a short-term downtrend variant. If this signal is confirmed today, the index could head towards the 25.994 level and above the 26.384 level. This is where the cards will be reshuffled.

However, if the good approaches fizzle out and the index tilts significantly lower today, one must be prepared for a tough summer trade. The focus is primarily on the support zone between 24,765 and 24,680 points. If this zone breaks as well, the buy-signal from May would be history. In a first step, the index should then drop to the 23.730 level and close the gap there.

Dow Jones Industrial Average® Index in points on the daily chart; 1 candle = 1 day (log. candle chart representation)

Period under review: 30.03.2020 – 26.06.2020. Historical observations are not reliable indicators of future developments. Source: www.guidants.com
Dow Jones Industrial Average® Index in points in the monthly chart; 1 candle = 1 month (log. candle chart representation)

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