DOWI may have seen its highest high of the Year. On the macro economic level, more there are sign of economic recovery, better is the chance of FED to increase its interest rate by September 2015. ALthough the increase will be slow, at the minimum level i.e 0.25 base point on the upside, the market is still rather tence on the timing of this raise.
Therefore, One should not expect a better higher high at least before October 2015.
there is nothing to fuel the market on the macro economic terms and ECB's QE will not profit directly to DOWI or other US market.
On the chartist approach, the RSI is on a rising wedge pattern, ie this is a shape that may announce a break on the down side.
DOWI may very much swing between the red and the blue trend line;
should sell in may come back in September may be into force as every year, therefore, the rising wedge of DOWI may break mid May;
the Brake may be on the downside until 17060, if not 16784. I would later gine intermediate support and resistance level. But at least, this is the level expected as a preemptive move from the market before FED decide to increase the interest rate and the market resuming a long position
Therefore, One should not expect a better higher high at least before October 2015.
there is nothing to fuel the market on the macro economic terms and ECB's QE will not profit directly to DOWI or other US market.
On the chartist approach, the RSI is on a rising wedge pattern, ie this is a shape that may announce a break on the down side.
DOWI may very much swing between the red and the blue trend line;
should sell in may come back in September may be into force as every year, therefore, the rising wedge of DOWI may break mid May;
the Brake may be on the downside until 17060, if not 16784. I would later gine intermediate support and resistance level. But at least, this is the level expected as a preemptive move from the market before FED decide to increase the interest rate and the market resuming a long position
