Dow jones has made a inverted Cup and handle chart pattern , if we start trading below the yellow line , we could hit the further lower levels .
Do you trade in dow futures? If not, how does this analysis shall be used?
Chances are high , but my assumption is that , its in a highly oversold area , it will bounce back before commencing further downside.
Agreed, most of the global markets across different asset classes are oversold, except India.
Having ultra bullish call on Nifty is not going to be good for portfolios. Major correction is pending in Nifty and Banknifty. decoupling happened but remember market always find it path to price in fundamental.
This might shed some further light. To work with this, need some more adjustment, as this chart only forcasts time range.
P.S: Not applicable for BTST & Swing.
American’s are bleeding themselves, by encouraging / funding Ukrainian war & printing more money , same thing with British!! , I assume US market will crash further , if DOW falls below level of 28000, further sharp down side is possible.
Will follow others soon bulletproof hota to fed rate se itna girawat nhi ata