Cabana Capitals Blog Technical Analysis bearish technical pattern on DOW 30 4 hour

bearish technical pattern on DOW 30 4 hour

bearish technical pattern on DOW 30 4 hour post thumbnail image

This trade setup on DOW 30 is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 42564.2823.

Supported by Downward sloping Moving Average

Target: 42564.2823 Entry: 43114.8 Stop: 43279.31

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