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Key Resistance: 34100 – 34500
After falling and closing extremely bearish last Friday, the Dow rejected the 33000 level printing a super bullish daily candle (+2.76%). The last 2 days have been very rangebound for the Dow but price printed a continuation pattern (flat triangle) right at the previous broken base.
Buyers keep picking up price higher and higher creating higher lows with a flat top.
This pattern has a very high probability of success and with the addition of expected lower unemployment claims from the US we could see momentum after the break of this zone.
Our stops are below Tuesday’s lows because this is the first low of this pattern and should price break below it our trade idea is no longer valid.
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- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
