Bearish DJI - 05 December 2024 - Technical Analysis

EURUSD Forex

Dow Jones

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 5 Min time frame chart supports Dow Jones Bearish bias. A break of 44838.90 will support the fall towards the target of 44730.90 the break of 44730.90 would push the price to 44658.90.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 43083.53
Support S1: 43043.06, S2: 42998.43 , S3: 42957.96
Resistance R1: 43128.16 , R2: 43168.63 , R3: 43213.26

Brokers

Open account

Summary

Instrument :

Dow Jones

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

47%

Entry Level :

44838.90

Activation Time :

2024-12-05 18:25

Age :

50 Bars

Progress :

80%

Close Time :

2024-12-05 23:50

Time Frame :

5 Min

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.