Europe ( DAX,FTSE and SWED) mainly same look as Dow. They all move together now. Will therefore refer to Dow knowing the same happens to Europe. Will only talk about the small differences between the indexes.
Trend is still an uptrend holding steady in channels. However the Dow which closed at the high of 11.430.9 on 2 hours chart slowly coming down. Now trading 11.386 in Europe.
During the last 9 weeks the difference between weekly highs and lows has been 600 - 1.000 points. So far this week 233 points have been traded in the weekly bar. This weeks bar has a very strong support from the rising 8 week MA and I expect that curve to stop any sell-off as long as it is rising. Now at 11.147. The Dow might test the 21 week MA for resistance sooner or later, now at 11.701.
So the Dow will move between 11.147 and 11.701 this week. We are now at 11.386. The bottom use to hold very well in situations like this but the 21 MA could be penetrated but the uptrend will definitely stop around the 34 week MA now at. 11.949.
These MA:s change only once a week. So my outlook is that the Dow will definitely be above 11.147 and below 11.949. There is a strong possibility that the upper limit could be in the 11.701 area.
The current trading this week is between 11.204 and 11.437. We are currently at 11.362. How the Dow will perform the rest of the week I Dont know exactly. But if you got this parameters you will see that this weeks trading is a small blip in the big trend and it is not likely that we will see a big trend change now.
Trend is still an uptrend holding steady in channels. However the Dow which closed at the high of 11.430.9 on 2 hours chart slowly coming down. Now trading 11.386 in Europe.
During the last 9 weeks the difference between weekly highs and lows has been 600 - 1.000 points. So far this week 233 points have been traded in the weekly bar. This weeks bar has a very strong support from the rising 8 week MA and I expect that curve to stop any sell-off as long as it is rising. Now at 11.147. The Dow might test the 21 week MA for resistance sooner or later, now at 11.701.
So the Dow will move between 11.147 and 11.701 this week. We are now at 11.386. The bottom use to hold very well in situations like this but the 21 MA could be penetrated but the uptrend will definitely stop around the 34 week MA now at. 11.949.
These MA:s change only once a week. So my outlook is that the Dow will definitely be above 11.147 and below 11.949. There is a strong possibility that the upper limit could be in the 11.701 area.
The current trading this week is between 11.204 and 11.437. We are currently at 11.362. How the Dow will perform the rest of the week I Dont know exactly. But if you got this parameters you will see that this weeks trading is a small blip in the big trend and it is not likely that we will see a big trend change now.
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