13 July,2023 U.S session #GOINVESTER #DOEJONES #NASDAQ #INTRADAY
Dow Jones and NASDAQ Technical Analysis
Dow Jones and NASDAQ both have traded with a bullish bias in the US Europe session today. As discussed yesterday, 15,500 is the first target for NASDAQ 100. It is now slightly above the halfway from there. US 30 is trading within a very narrow bullish bias.
NASDAQ 100
The NASDAQ 100 has formed a beautiful bullish channel. The top of the channel is now situated at around 14,440 levels. If it stays above 14,440, we can expect 14,500 and beyond. On the downside, we have 14,380 and 14,350 as strong support levels.
The stochastic is overbought, but this does not necessarily mean that the price will reverse. Once everything gets overbought, more buyers pitch in and the price can continue to rise.
The moving averages are trading with Divergence and are bullish. MACD is almost trading flat and RSI is also trading overbought.
Dow Jones
The Dow Jones is trading within a very narrow bullish bias. The price is currently trading at the 20 period moving average, which is providing support. If the price breaks above 34,450, we can expect it to reach 34,570 and beyond.
The stochastic is bearish, but this does not necessarily mean that the price will reverse. If the price breaks above 34,450, the stochastic will likely turn bullish.
The moving averages are trading with Divergence and are bullish. MACD is willing to converge and crossover for a sell, but it has not yet crossed over. RSI is flat.
Conclusion:
Both the Dow Jones and NASDAQ have exhibited a bullish bias in today's trading sessions. The analysis suggests potential entry points and targets for maximizing trading opportunities. However, traders should exercise caution and consider implementing appropriate risk management strategies. It is essential to monitor market conditions and react accordingly. Remember to conduct thorough research and consult with a financial advisor before making any investment decisions.
Disclaimer
This is not financial advice. Please do your own research before making any investment decisions.
Takeaways
NASDAQ 100 is trading above the 14,440 level, which is a bullish sign.
The stochastic is overbought, but this does not necessarily mean that the price will reverse.
The moving averages are trading with Divergence and are bullish.
MACD is almost trading flat and RSI is also trading overbought.
Dow Jones is trading within a very narrow bullish bias.
The stochastic is bearish, but this does not necessarily mean that the price will reverse.
The moving averages are trading with Divergence and are bullish.
MACD is willing to converge and crossover for a sell, but it has not yet crossed over.
RSI is flat.
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