US Stock Indices | Dow Jones – Potential Double Top
Weekly AMA on Instagram - Ask me anything about trading & investing, stock picks, market analysis, etc!
After breaking the trendline, the Dow has had a deep correction, and is now heading to test the previous swing highs. If the resistance holds, it could form a potential double top. The price action is currently contained in a mild uptrend channel, which had a small breakout on Friday. If we see follow-through on Monday, it is likely it will head to test the swing high, but if it falls back into the channel, we can expect it head down to test the swing low, as indicated by the arrow.
New to Trading? Make your first live trade today in this workshop! Meet Spencer live for 3 hours of hands-on training! No prior experience required! Learn all the basics of trading, and step-by-step guidance to make your first trade!
If you're looking for the best trading opportunities every day across various markets, and don't want to spend hours doing the research yourself, check out our private Telegram channel!
Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.
Leave a Reply
Want to join the discussion?Feel free to contribute!