Thread: Analysis of the US30 - DJI June 2021

US30 23/06/2021 Today's analysis and opportunities Attachment g

Today I would like to delve into the analysis of the US30, or the Dow Jones Industrial, which remains one of the most observed indices by traders dynamically moving around.In recent days, we have seen an interesting pattern of consolidation, where the price has touched key levels of support and resistance, but it has not managed to break in a decisive way.This behavior is typical of a market that is waiting for confirmation, possibly driven by economic data or decisions of monetary policy.What most strikes me is that the volatility is still relatively low, which suggests that the market could be taking a pause before a significant movement.As for the technical analysis, we would have to pay special attention to the level of the 33.500 points.If the price manages to stay above this level, it is likely that we can see an immediate analysis towards the 34.000 points. However, if the price does not manage this support area, we could be able to establish a deeper correction, which would open the possibility of a decrease to 32,000 points.

The level of 33,500 is critical. If it is maintained, there could be an upward rebound to 34,000. It is important to be attentive to the employment data, as they can influence the direction of the index.

I agree that low volatility indicates that the market is waiting for something. I would not be surprised if we see strong movements in the coming days, depending on the economic news.

I was hoping that the market would consolidate more time before any major movement. This technical analysis seems to me to be well-founded and very logical.

The correction you mention may be necessary if we fail to break the 33,500. However, I believe that with the current low interest rate climate, the market could continue to push upwards.

I like your approach to using dynamic stops. It’s not always easy, but I think it’s one of the best ways to minimize risk in these volatile markets.

In terms of fundamentals, it seems to me that the key will be how the market reacts to the next economic data. If they are strong, there could be more ups; if they disappoint, we could see a fall.