Tag Archives: support

Dow Jones Industrial Average at major support: 15500

We will get a bounce but will it be a dead-cat bounce?

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Fibonacci Retracement Levels published on January 15, 2016

DJIA 5-year chart showing the fibonacci retracement levles

<img aria-describedby="caption-attachment-9794" decoding="async" src="https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15.png" alt="DJIA 5-year chart showing the fibonacci retracement levles" width="699" height="312" class="size-full wp-image-9794" srcset="https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15.png 699w, https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15-200x89.png 200w" sizes="(max-width: 699px) 100vw, 699px" />

DJIA 5-Year Chart

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Dow Jones Industrial Average 5-Year Chart

The support zone is 15,500 to 16,000

DJIA 5-Year Weekly Chart showing the support zone.

DJIA 5-Year Weekly Chart

The only positive on the chart is the bounce from the support zone. I will be pleasantly surprised if the support zone holds.

The negatives on the chart:

Trading below the 50-day and 200-day moving averages
50-day below 200-day
RSI below 50
MACD below 0

Reference my post of January 16, 2016 showing the Fibonacci retracement levels for DJIA.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Fibonacci retracement levels for DJIA

DJIA 5-year chart showing the fibonacci retracement levles

<img aria-describedby="caption-attachment-9794" decoding="async" src="https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15.png" alt="DJIA 5-year chart showing the fibonacci retracement levles" width="699" height="312" class="size-full wp-image-9794" srcset="https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15.png 699w, https://tradeonline.ca/wp-content/uploads/2016/01/Fibonacci-Retracement-Levles-for-the-Dow-Jones-Industrial-Average_2016-01-15-200x89.png 200w" sizes="(max-width: 699px) 100vw, 699px" />

DJIA 5-Year Chart

Reference my post of June 24, 2015: Last correction for the Dow was in 2011

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2016 TradeOnline.ca

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Ominous shaven head and bottom candlestick

Chart for the S&P 500 showing the shaven bottom candlestick and the 2000 support level.

S&P 500 6-Month Daily Chart

Reference the last chart analysis for the S&P 500 Index.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

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West Texas Intermediate down 11.91% for the week

Ominous shaven head and shaven bottom candlestick

Chart for WTI showing the weekly decline of 11.91% which is represented on the chart as a tall dark candlestick.

West Texas Intermediate 4-year Chart

Some observations from the above weekly chart for WTI:

Major, intermediate and near-term downtrend for WTI.
Support levels of $40 and $38 did not hold.
Ominous shaven head and shaven bottom candlestick last week.
Can WTI hold above $35?
Major support (not shown) is now the 2009 low of $33.55.
A break below $33.55 (not shown) indicates that 30, 20 and 10 are in play.

Reference the last chart analysis for WTI showing the break below support of $38.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

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Near-term downtrend for Russell 2000 – Support = 1140

Russell 2000 6-Month Daily Chart showing near-term downtrend and support at 1140.

Russell 2000 6-Month Daily Chart

Reference last chart analysis for Russell 2000.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

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Support levels for the S&P 500

Near-term downtrend and the support levels.

S&P 500 6-Month Daily Candlestick Chart

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

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S&P 500 Index daily chart

Near-term uptrend with next resistance level at 2040

S&P 500 daily chart showing the near-term uptrend and resistance at 2040

S&P 500 1-Year Daily chart

Reference the last chart analysis for the S&P 500 Index.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

© 2015 TradeOnline.ca

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