???????Dow and Nasdaq 100 come under fresh pressure, while Dax drops back from yesterday’s highs???????


???Dow heads lower again

?The index has resumed its downward move, pushing below Friday’s low and nearing the previous highs at 40,080.

?Further declines below this would open the way to trendline support from the June low, and then down to horizontal support at 39,587.

DowJones Daily Chart

Recommended by Chris Beauchamp

Traits of Successful Traders

?

?Nasdaq 100 on the back foot

?Hopes of a bounce have faded here, though the index is holding above the 50-day simple moving average (SMA), currently 19,503. A close below the 50-day SMA marks a fresh short-term bearish development, targeting the previous highs at 18,949.

?Buyers will need a close back above 19,900 to suggest that a push higher is underway once more.

Nasdaq 100 Daily Chart

?

?Dax eases back from highs

?This index succeeded in pushing to a one-week high on Tuesday, before dropping back from its highs. It remains above Monday’s lows, but a close today below the 50-day SMA would put more short-term pressure on the price.

?This would then test Monday’s lows around 18,150, before moving on to test the June lows at 18,000.

DAX 40 Daily Chart

​​​​​​​Dow and Nasdaq 100 come under fresh pressure, while Dax drops back from yesterday’s highs​​​​​​​ Recommended by Chris Beauchamp Building Confidence in Trading

Source https://www.dailyfx.com/analysis/dow-and-nasdaq-100-come-under-fresh-pressure-while-dax-drops-back-from-yesterday-s-highs-20240724.html



Improve Your Trading Skills

forexforbeginners

"Simply a Must Read for Every Serious Forex Beginner"

Available at Amazon

Now also for Kindle 

get forex book