American Dow Jones Industrial Average may back to 20300 point
US technology stocks fell on Friday, coupled with the Federal Reserve will be announced in Hong Kong on Thursday morning interest rate results, the market worried about the Federal Reserve Chairman Yelun told reporters at the press conference to reduce the balance sheet, so that US stocks under pressure.
From the technical trend analysis, the US Dow Jones Industrial Average (DJI), the trend was significantly under pressure. Although not to fall, but at least the current level of lack of upward momentum. Strategy, if DJI by interest rate or shrink the table drag down, once the next break 21100 points to 21150 level, DJI will have the opportunity to double top confirmation. Investors can take the opportunity to short US stocks, a conservative estimate to fall to 20550 points before the support, if the support fall, DJI will have the opportunity to fall back to early May low level of 20380 points.
No doubt on that and correction is due. We already saw correction in the asian time where taiwan market record highest sell pressure in 3 months. But overall, this look like just a correction which will follow by range trading. Remember it is a bull market until proven.
Good post.
Followed.
It could keep drifting down, until August, then major correction.