Doji at trend line - up or down?
The markets $DJIA(.DJI)$ , $NASDAQ(.IXIC)$ and $S&P 500(.SPX)$ were all undecided on Wednesday. The downtrend line beckons and facing such an important resistance, that is no surprise. The bulls and bears are now lined up and poised delicately. The bears hold the highground and the bulls need to step up to take the objective? Are they up for it?
Taking the trend line is one thing. But holding it, staying above it and then gaining ground tobuild momentum is another thing. To have a good shot at a new bull and break the bear market, the latter is necessary.
I believe the bulls have a decent chance. But they need to hold the 4000 levels technically for a December rally. Break below and a retreat to the 3800 levels into late December is likely before a powerful rally into the new year.
I am still cautiously optimistic preferring to look at price actions before deciding.
Stay safe 😊
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
$E-mini Dow Jones - main 2212(YMmain)$