Dow Jones US30 short - Supply Demand - Trend Line, Corona Virus

11 พ.ค. 2020

Hello Traders!

Time for Dow Jones US30 Analysis.

Chart Analysis:
On Dow Jones we had a huge drop due to the Corona Virus impact. But like we can see the price made nice move to the upside. For me this is only a correction move. It is right now about to retest the Trend Line. Also there we got a weekly Supply Zone. I also marked some important Support Resistance Lines.

What can we expect:
We can expect a big drop on US30. But for now we need to wait that the price will push again higher into the weekly Supply Zone and to wait for a nice Price Action Confirmation.

Why the drop makes sense?
#1 Based on the chart analysis we can clearly see that this is only a correction move. After such a big drop we need to see some correction.
#2 Corona Virus
- The impact of the corona virus. We should not underestimate them. They are here and they are going to come bigger and this will also be reflected on Dow Jones.

That was my Idea and I hope you liked it. Please leave a LIKE if you like the content. In the comment section you can share your view and ask questions.

Thank you and we will see next time
- Darius.