As we can see from the graphic, today the US30 broke a trend line (the huge blue one) which shows the downgrade movement since the beginning of the year. The green line shows the most recent performance. It is all green with quite positive outlook (I shall better say, no huge fundamental negatives can be forseen in the next days).
Right now, the indice is testing an important resistance which was a former support. If overpassed, we can see the Industrial Average near 17.200 before the end of the month. That´s where, according to my calculations, the next important resistance is placed.
I went long this morning and now taken the first TP on 16.450. Don´t pop in yet as, previously, that resiatance was tested several times and always failed. I´d go in around 16.650 with a TP1 on 17.000 and TP2 on 17.200. SL would be our still resistance at 16.450.
Id highly appreciate your feedback, positive or negative, and any alternative views of this trade! Also, please amend me if I missed some important information.
Thanks for watching and Trade safe!
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Graphics go up and down but if it closes below 16400,the idea is aborted
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US30 is testing a massive resistance over 16550 once again. Put a "Buy" order on 16700 in case it breaks the resistance and also the year-to-date trend line