DJI - Rebound
Updated
1. Youda_Potential, Fortune_TD, Fortune Banker trend, Fortune Crown stage:
Analysis on weekly chart
10 Oct 2022 Youda Potential shows the midterm (brown line) is going downward, but the DJI index hit the green band, potential to be supported.
03 Oct 2022, Fortune TD show the green bar, there is a potential share pull back, if break out the high of green bar, rebound on weekly chart will be confirmed, the resistance is around 32278
03 Oct 2022, Fortune Crown security line is at bottom, still going down, there is no red dot yet.
03 Oct 2022, Fortune Banker trend, green line shows the banker chips flow in, but the short money still not yet gold cross its 5 days average. The red lines crossed above the green line, this is a positive signal for rebound.
Analysis on daily chart
Since the index potential be supported as shown in weekly chart, change the timeframe to daily chart for potential bottom catch oppurtunity.
13 Oct 2022, Youda Potential shows the midterm (brown line) is going down, and also the long term (red bad) downward trend. Thus, if index rise, this is considered as rebound in daily timeframe only.
Fortune TD green bar (share pull back signal) shows that its high was broken out on 13 Oct, this is a positive signal of the rebound.
Fortune Crown security (red dot) is rising from bottom, green candle (positive momentum) is going upward as well. The rebound is still ongoing unless the red dot disappear and green candle turn red.
Fortune Banker trend, red line is above green line and the short money gold cross its 5 days average. There is a bottom diverge on 13 Oct as well
2. Potential opportunity:
daily chart still in downtrend, but potential a rebound is in the progress. support 28855.
3. Summary:
Based on above analysis, the index is downtrend in daily timeframe, so weekly chart to identify the bottom area and support strength, instead of using daily chart for support and resistance.
Disclaimer : no recommendation of buy/sell, purely for TA learning and sharing.
Analysis on weekly chart
10 Oct 2022 Youda Potential shows the midterm (brown line) is going downward, but the DJI index hit the green band, potential to be supported.
03 Oct 2022, Fortune TD show the green bar, there is a potential share pull back, if break out the high of green bar, rebound on weekly chart will be confirmed, the resistance is around 32278
03 Oct 2022, Fortune Crown security line is at bottom, still going down, there is no red dot yet.
03 Oct 2022, Fortune Banker trend, green line shows the banker chips flow in, but the short money still not yet gold cross its 5 days average. The red lines crossed above the green line, this is a positive signal for rebound.
Analysis on daily chart
Since the index potential be supported as shown in weekly chart, change the timeframe to daily chart for potential bottom catch oppurtunity.
13 Oct 2022, Youda Potential shows the midterm (brown line) is going down, and also the long term (red bad) downward trend. Thus, if index rise, this is considered as rebound in daily timeframe only.
Fortune TD green bar (share pull back signal) shows that its high was broken out on 13 Oct, this is a positive signal of the rebound.
Fortune Crown security (red dot) is rising from bottom, green candle (positive momentum) is going upward as well. The rebound is still ongoing unless the red dot disappear and green candle turn red.
Fortune Banker trend, red line is above green line and the short money gold cross its 5 days average. There is a bottom diverge on 13 Oct as well
2. Potential opportunity:
daily chart still in downtrend, but potential a rebound is in the progress. support 28855.
3. Summary:
Based on above analysis, the index is downtrend in daily timeframe, so weekly chart to identify the bottom area and support strength, instead of using daily chart for support and resistance.
Disclaimer : no recommendation of buy/sell, purely for TA learning and sharing.
Note
DJI 30185 now, rebound is ongoing.
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