Minidollar (WDOK24) may seek a buying reaction if it surpasses the 5,137 point range

Minidollar contracts (WDOK24)due in May, closed the last session in the negative, registering a drop of 0.73%, at 5,135 points.

Thus, based on the previous day’s closing, at 5,135 points, technical analyst Rodrigo Paz points out the support 5,122 (1), 5,104 (2) and 5,086.5 (3). Meanwhile, resistance is in 5,137 (1), 5,162 (2) and 5,192/5,215 (3).

Based on the 15-minute chart, it is possible to notice that the mini-dollar contract is trading in a downtrend and could continue the declines. To do this, it will be necessary to break the range of 5,122 points. However, it is worth paying attention, as it has recovered above the averages and could seek a bullish recovery after a bearish sequence.

“For today (Wednesday), it is important to keep an eye on the possible continuation of the downward movement. To do this, you must break the 5,122 points. If you follow this movement and break the 5,104 points, you can intensify the sales flow, in order to seek the range of 5,086.5 points,” he says.
However, it is worth paying attention to the main resistance bands. If the buyer flow resumes and exceeds the 5,137 points, can boost the flow of purchases, in order to seek the range of 5,162 with a longer target in the region of 5,192/5,215 points.

Dollar Futures (WDOK24): 60-Minute Chart

Analyzing the 60-minute chart, it is possible to observe that the minidollar, after reaching the 5,300 point range, began a correction movement after an upward sequence, returning below the averages and has the potential for continuity. But it is worth paying attention to the distance from the averages, which can cause a buying rebound movement.

“For the asset to resume the buying flow, it must surpass the average region of 5,142/5,169 points and then aim for a target in the range of 5,192/5,222 points. The longest objective will be in the range of 5,246/5,285 points”, says analyst Rodrigo Paz.

If it continues the downward movement, it should break the 5,122/5,112 point range. If it is broken, it should aim for the 5,086.5/5,072.5 range, with a longer target at 5,045 points.

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