Sunday, May 31, 2015

DJIA on 1-Jun-2015

New month - June 2015

I was wrong last week.  I forecast DJIA to go up until 2L Target 18,925 pts, but the same week DJIA shows weaknesses and closed 300 - 400 pts lower to 17,950 - 18,000 pts from its high 18,364 pts.

Monthly Trend is still bullish with higher high and higher low
Weekly Chart showing weakness with a probable reversal signal created recent 3 weeks.
Daily Chart showing weakness since 20-May-2015 with lower high and lower lows.

DJIA break below EMA50 (4 hour chart) and stayed below.

I prefer DJIA to swing up to 18,330 pts early June.

With price suppressed below 18,100 pts without fundamental influence, I forecast DJIA to swing between 17,750 - 18,100 pts.
As long as DJIA stays above 17,750 pts - I would keep my slight bullish opinion towards the market.

Trading Interest:
Wait buying opportunities at 17,750 pts area for this week (1st week of June 2015).

What if...
Once DJIA break below 17,750 pts, next strong support is 17,550 pts, once this level is broken, it void my wave label and I shall review.



  1. Your shared posts Becoming a successful Forex content are indeed very interesting and insightful. share market tips this is great read!!

  2. technical-analysis is a trading tool employed to evaluate securities and provides accurate forecasts which are prepared by expert technical analysts.