Blog

Trading Dow Jones with RSI Edge.

The weekly RSI have face resistance at bullish extreme and turned down, a hanging man candle (formed last week) is now confirmed by a bear engulfing. Any move up will be a correction on the upside, any rise may be utilized as a opportunity to sell. The final RSI target of the Dow is at 22300 – 22050 levels. A weekly close below 24160 will make bears aggressive.

On the hourly charts the index is set to pull back. After a 3 period RSI divergence, the prices rebounded quickly to 24578 (highs). This divergence can pullback the index to 24920 – 25050 levels. These levels will further act as resistance.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *

About us

ProRSI is a premium trading mentorship program which helps you trade profitably

info@prorsi.com

+91 9748173333

Mon - Sat 9.30 - 19.00

Sunday closed