DJI Potential For Bearish Continuation

6 oct. 2022

DJI has a bearish bias on the H4 chart. In addition, the price is below the ichimoku cloud, indicating a bearish market. For the sell entry, price should retrace upwards to the 61.8% Fibonacci line at 32160.05. To add to the confluence of this sell area, there is a market gap that appears to be fillable there. The stop loss will be placed at 33364.70, just above the 78.6% Fibonacci retracement line. The take profit level will be 27848.20, which is where the 161.8% Fibonacci extension line and the -27.2% Fibonacci expansion line intersect.

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