Buy Dow Jones | 22 January 2021

DJI30 weekly Review 

Buy Dow Jones

Wave Analysis

Just before  the end of last week, Dow Jones lost a few points but is still pretty much bullish. While we continue to see sustenance above the blue indicator line, we expect nothing but a possible momentum to the upperside.  The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should b breakout above 31341 towards 31400 towards 35k. On the flip side, should the price break below the lower blue line, then further momentum much lower is expected towards 29321.

Trade Recommendations:

Buy a bounce from the blue line towards 35k

SPX500 weekly Review


Wave Analysis

Just as Dow, SPX500 lost some points during the previous trading day but is still above the lower blue line. While we continue to see sustenance above the Alligator lines, we expect nothing but a possible momentum much higher. This upward rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 3842.0. If you are looking at this chart, keep looking for more buy positions expecting price to rise much higher A break below 3721.0 will push the price to the lowerside.

Trade Recommendations:

Wait and buy a bounce from  3681.0 towards 3900.00.

Silver Weekly Review


Wave Analysis

Earlier this month, silver bounced off from the upper trendline headed straight to the lower side and is still pretty much bearish. While we continue to see sustain below this level, we are looking for more momentum to the lowerside. The anticipated bearish price rally is the continuation of a corrective wave count and should push price much lower with the next ideal target set along the lower trendline. If the price breaks above the upper trendline, then further momentum much higher is expected.

Trade Recommendations:

Look for low risk sell positions towards the lower trendline.

Bob Stan
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