Hello again!
Today we are going to take a peek at the Dow
Jones Industrial Average chart (charts courtesy of Stockcharts.com).
In order to take away the noise and filter the correct
market trend, we use, this time, the Heikin-Ashi candles. As we can see, around
1720h GMT, the DOW is at 13.250, with a low for the day of 13.224 and a high of
13.265.
The trend is intact and clearly upwards.
Although we could see a minor pullback and the Stochastics are also confirming
this possibility, the rise will continue for a bit.
The first area the index must break is the
13.275 level. Once that is broken, we could see a continuation to the 13.300
zone with a minor zig zag.
The 20 MA is currently at 13210 which could be
a support on the lower side.
Trade safely. Trade with discipline.
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