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Soultrader

Dow mini (YM) Daily Chart Analysis

By Soultrader, in Market News & Analysis

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Soultrader    12

Soultrader
Posted

The Dow mini has managed to hold its ground above critical support at 11400. Price is still respecting the trendline and we could see a possible lift towards the early May high at 11872.

 

Price broke out of value today and closed above it indicating a victory by the bulls. We are seeing buying confidence in the markets on a technical perspective. Price is still trading above the 21, 50, 100, and 200 moving averages indicating strength.

 

Although volume is still not ideal, we are not seeing volume on the sell-side either. This is good news for those who are holding onto their longs.

 

See attachment for chart.

091106dailyanaylsis.jpg.230dc95d0bbd9bcd5b97d8c0ab93e979.jpg

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