Markets

Dow Jones – There’s the lid on it! – columns

Tuesday,
December 8th, 2020
16:10

from onemarkets blog

| Views: 273

The Dow Jones Industrial Average® climbed new all-time highs on the last two trading days and left the resistance at 20,116 points behind. However, the bulls failed to heave the index over a capping trendline. Yesterday the index clearly failed at this technical chart hurdle and fell back again. Things are now getting tight for buyers in the short term. The wedge formation is still intact and a breakout to the top is possible. The capping trend line at around 30,260 points is again acting as resistance today. A breakout above it at the daily closing price would release potential in the direction of 30,620 points.

The 29,964 point mark proved to be a good support in yesterday’s trading. The short-term upward trend line, which also acts as the lower limit of the wedge, runs slightly below at 29,795 points. Breaking this level could trigger a sell-off towards the old all-time high at 29,569 points. Only below that would you expect stronger sales pressure up to 29,199 points, possibly also directly into the support zone between 28,958 to 28,892 points.

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

old
Observation period: October 2nd, 2020 – December 7th, 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)

old
Observation period: 01.12.2015 – 07.12.2020. 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

Underlying WKN Ask rate / EUR Base price / knock-out in pts. lever Final valuation day
Dow Jones® Index HR1Y0F 56.15 23,200.00 4.41 December 15, 2020
Dow Jones® Index HR1HYN 39.61 25,200.00 6.25 December 15, 2020
Source: HypoVereinsbank onemarkets; Status: December 8th, 2020; 3:30 p.m.

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

Underlying WKN Ask rate / EUR Base price / knock-out in pts. lever Final valuation day
DowJones® Index HR14GG 24.23 32,900.00 10.23 December 15, 2020
DowJones® Index HR1J1M 6.69 30,750.00 37.00 December 15, 2020
Source: HypoVereinsbank onemarkets; Status: December 8th, 2020; 3:32 pm

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The Dow Jones contribution – the lid is on! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Bastian Galuschka

In the onemarkets blog, experts from HypoVereinsbank onemarkets and technical analysts from GodmodeTrader will tell you what will move the markets before the stock market starts. During the day, the editors keep an eye on the DAX, Dow & Co. for you and show you how you can benefit from the ups and downs with leverage products.
http://blog.onemarkets.de

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