{"id":12060,"date":"2022-06-06T09:10:13","date_gmt":"2022-06-06T09:10:13","guid":{"rendered":"https:\/\/tradingshot.com\/?p=12060"},"modified":"2023-05-10T09:12:42","modified_gmt":"2023-05-10T09:12:42","slug":"dow-jones-consolidating-below-the-1d-ma50-for-a-week","status":"publish","type":"post","link":"https:\/\/tradingshot.com\/index.php\/2022\/06\/06\/dow-jones-consolidating-below-the-1d-ma50-for-a-week\/","title":{"rendered":"DOW JONES Consolidating below the 1D MA50 for a week"},"content":{"rendered":"

 <\/p>\n

Dow Jones (DJI) eventually rebounded at the bottom (Lower Lows trend-line) of its long-term Channel Down, since our last analysis that indicated a sold R\/R ratio for going long:<\/p>\n

\"DOW<\/a><\/div>\n

Since the end of May though, the index has failed just before a 1D MA50 (blue trend-line) test and turned sideways below that level. This is similar to the last Lower High formation on the Channel Down, as shown on the previous analysis.<\/p>\n

Technically, as long as the price remains below the Lower Highs trend-line, it is a sell (on a tight SL of course) opportunity towards the 30650 Support and if that breaks, towards the -0.236 Fibonacci extension around 29500.<\/p>\n

Even in the event of a break-out, we still can’t call a long-term bullish reversal as the range within roughly 34150 – 35540 is a Neutral Zone (we can apply tight scalping strategies there) as late March – late April showed. Only with a weekly candle close above the 35875 Resistance, we can assume that Dow has resumed its long-term bullish trend.<\/p>\n

Tradingview link:<\/p>\n

https:\/\/www.tradingview.com\/chart\/US30\/YlXgg4qr-DOW-JONES-Consolidating-below-the-1D-MA50-for-a-week<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  Dow Jones (DJI) eventually rebounded at the bottom (Lower Lows trend-line) of its long-term Channel Down, since our last analysis that indicated a sold R\/R ratio for going long: Since the end of May though, the index has failed just before a 1D MA50 (blue trend-line) test and turned sideways below that level. This<\/p>\n","protected":false},"author":611,"featured_media":12061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1639],"tags":[],"class_list":["post-12060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stockindices"],"_links":{"self":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/users\/611"}],"replies":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/comments?post=12060"}],"version-history":[{"count":2,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12060\/revisions"}],"predecessor-version":[{"id":12063,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/posts\/12060\/revisions\/12063"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media\/12061"}],"wp:attachment":[{"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/media?parent=12060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/categories?post=12060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tradingshot.com\/index.php\/wp-json\/wp\/v2\/tags?post=12060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}