Dow futures cleared not only the 200DMA on Thursday but also downtrend resistance dating back to the record highs set in February, suggesting a new trend may now be underway. While the initial rejection at 41787 warrants some caution, with momentum indicators swinging into bullish territory, there’s enough here to consider long setups heading into this weekend’s key trade meeting between the U.S. and China in Switzerland.
One idea would be to buy above the 50DMA with a stop below for protection. 41787 is an early hurdle to clear, with a break above opening the path for a potential run towards the 200DMA—that screens as a reasonable target.
If the price reverses and closes back below the 50DMA, the bullish bias would be invalidated.
Good luck!
DS
One idea would be to buy above the 50DMA with a stop below for protection. 41787 is an early hurdle to clear, with a break above opening the path for a potential run towards the 200DMA—that screens as a reasonable target.
If the price reverses and closes back below the 50DMA, the bullish bias would be invalidated.
Good luck!
DS
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