10.06.202116:26 Forex Analysis & Reviews: Trading Signal for Dow Jones #INDU, for June 10 - 11, 2021: Buy above 34,375

Exchange Rates 10.06.2021 analysis

After the American session opened, the Dow Jones Industrial Index #INDU was trading below the SMA of 21 in a 4-hour chart within an uptrend channel, with targets again up to the 34765 area (+1/8 from murray).

If you look at the 8/8 Murray chart, the Dow Jones Index has bounced several times in this area of 34,375 and has marked a strong bottom, which represents that even the upward force is still in the Dow Jones market.

In addition, we can see that the #INDU is located within an uptrend channel, which suggests that this downward movement in recent sessions is just a correction and there could be a new attempt to break the 34,765 barrier.

The last candle called a Pin bar, which leaves the Dow Jones, means that there could be a bullish movement, and a break of the SMA of 21 located at 34,590 will give more bullish force until the zone of +1/8 of murray.

The technical reading of the eagle indicator is showing a bullish signal and the data to be published from the United States could give the market some volatility.

Our recommendation is to buy above the 8/8 murray and above the 21 SMA on the 4-hour charts, targeting +1/8 murray (34,765).

Support and Resistance Levels for June 10 – 11, 2021

Resistance (3) 34,834

Resistance (2) 34,745

Resistance (1) 34,640


Support (1) 34,432

Support (2) 34,388

Support (3) 34,299

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dimitrios Zappas,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.