FOR EDUCATIONAL PURPOSE ONLY!
This is a daily chart of Dow. It has taken a support exactly at its daily support trendline (blue). From last several months, Dow has been trading in a range on weekly charts which can be seen in pink lines. On weekly charts Dow has made a flag and pole pattern and either it takes support at this level or may give break down. If it gives break down then it will be a bad signal for entire markets around the world. Break down on a weekly chart means begining of a down trend in Dow and eventually markets around the world would break down. 33682 is a very import support for Dow and if it starts to trade below that, keep a very strick SL of your portfolio on Daily charts.
This is a daily chart of Dow. It has taken a support exactly at its daily support trendline (blue). From last several months, Dow has been trading in a range on weekly charts which can be seen in pink lines. On weekly charts Dow has made a flag and pole pattern and either it takes support at this level or may give break down. If it gives break down then it will be a bad signal for entire markets around the world. Break down on a weekly chart means begining of a down trend in Dow and eventually markets around the world would break down. 33682 is a very import support for Dow and if it starts to trade below that, keep a very strick SL of your portfolio on Daily charts.