The left chart shows the daily FXCM Dow Jones Industrial CFD, US30. It has slipped from its zone of strength (green square) into its neutral zone, between the blue bands. On a relative basis, this reflects weakness. It also shows Heiken Ashi candles. with the red colour also suggesting weakness. The right chart shows the US30 hourly time frame. The EMAs and the stochastic have turned down, which are bearish developments. If the stochastic heads to the 20- levels (blue arrow) and maintains that position, an underlying bearish momentum will likely apply further pressure to the index.
Senior Market Specialist
Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.