DJIA has been rejected from the resistance confluence
DJIA is testing the upside resistance confluence of the falling trendline and horizontal resistance 27000-27300. For the upside extension from here, we need to see a price action break above this confluence zone with the significant daily close and confirmation. For a downside reversal and higher probability short trade entries, we need to see a break below the 25500. Pair reached previously 27800 long-term uptrend resistance in a pullback from a downside swing. The overall medium-term trend is the upside and a confirmed break above 27350 could be used as a long trade opportunity.
Note – We are inclined to short trade entries here with the stop loss above 27300
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