Markets

Dow Jones price explosion at the start of the week

A mixture of short squeeze and joy at the good results of a vaccine against the coronavirus makes the Dow Jones Industrial Average® explode after an uneventful Friday trade at the start of the week today. In the meantime, even the round mark of 30,000 points lit up in the pre-trading session. With a view to this perhaps groundbreaking news in the fight against the coronavirus, the chart technology takes a back seat. Entry on the long side is not really affordable due to the huge price jump at the opening, but there are also no short signals. This is the reality at the start of trading. There is no longer any classic resistance above the all-time high of 29,569 points. This level now serves as support in the event of setbacks, likewise the upstream highs at 29,199 and 28,958 points.

It is advisable to wait for the trade to calm down. The next consolidation patterns will provide information on which goals can possibly still be achieved on the upside.

Dow Jones Industrial Average® Index in points on the daily chart; 1 candle = 1 day (logical candle chart display)

Observation period: 07/17/2020 – 11/9/2020. Historical considerations are not reliable indicators for future developments. Source: www.guidants.com

Dow Jones Industrial Average® Index in points on the monthly chart; 1 candle = 1 month (logical candle chart display)

Observation period: November 1, 2015 – November 9, 2020. Historical considerations are not reliable indicators for future developments. Source: www.guidants.com

Investment opportunities

Turbo Bull on Dow Jones Industrial Average® Index for speculation that the index will rise

UnderlyingWKNAsk rate / EURBase price / knock-out in pts.leverFinal valuation date
Dow Jones® IndexHR1Y0F 54.3123,200.00 4.61December 15, 2020
Dow Jones® IndexHR1HYN 38.5425,200.00 6.69December 15, 2020
Source: HypoVereinsbank onemarkets; As of: November 9th, 2020; 3:42 pm

Turbo Bear on the Dow Jones Industrial Average® Index for speculation that the index may lose value

UnderlyingWKNAsk rate / EURBase price / knock-out in pts.leverFinal valuation date
DowJones® IndexHR14GG 28.1832,900.008.86December 15, 2020
DowJones® IndexHR1J1M 10.4330,750.0024.09December 15, 2020
Source: HypoVereinsbank onemarkets; As of: November 9th, 2020; 3:44 pm

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The contribution Dow Jones – Price explosion at the start of the week first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Bastian Galuschka

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