Recap The last time we looked at YM was almost a month ago when we watched price break out of an ascending triangle. It has been a rocky road for YM traders as the breakout did not last, and a retracement to the triangle has occurred. There may be opportunities arising as we speak, though, Read More…
Recap The ascending triangle formation in the Dow is still the main chart pattern that we are monitoring in this week’s analysis. Price broke out of the triangle sometime again, as shown in this article, and we have been patiently waiting for a pullback that might just be here. YM looks poised for a bounce, Read More…
Introduction As with most equities this year, YM has seen a resilient surge of 23% since last year’s lows made in October. The ascending triangle pattern on the daily chart has been the primary focal point for our technical analysis as we try to find favorable risk-reward ratios and high-probability trades. Let’s take a fresh Read More…
Trade Recap Last week we looked at a potential long trade in the Dow Jones futures as price was bouncing off the diagonal support line for the ascending triangle on the daily chart. The market has bounced powerfully since that analysis, with an excellent risk-reward ratio position playing out right now. Take a look at Read More…
Introduction In today’s technical analysis, we will examine the recent trends and indicators surrounding Dow Jones Futures. By analyzing volume, price action, moving averages, and potential price targets, we can gain valuable insight into a potential long trade in YM. Volume Analysis: Observing the current price action, there is a slight decrease in volume. While Read More…
Techncial recap Take a moment to review the analysis from June 12th here. The gap we analyzed has been filled perfectly, and an immediate bullish reversal followed. Now, bulls are pushing price up above the horizontal resistance line and attempting to break above the ascending triangle once more. Technical analysis Moving Averages: The 50 MA is sitting Read More…
