Minidollar (WDOM24) may continue downward movement with support at 5,075 points

Minidollar contracts (WDOM24)due in June, closed the last session in the negative, registering a drop of 0.76%, at 5,088 points.

Thus, based on last Friday’s closing, at 5,088 points, technical analyst Rodrigo Paz points out as supports 5,075/5,057.5 (1), 5,032 (2) and 5,021 (3). Meanwhile, resistance is in 5,098.5/5,114.5 (1), 5,131/5,136 (2) and 5,173.5 (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 if it breaks the 5,075/5,057.5 point range. However, it is worth paying attention, as if the asset surpasses the 5,098.5 point range, it may resume its upward movement.

Download a free spreadsheet to calculate your fixed income investments and avoid assets that yield less

“For today (Monday), it is important to pay attention to a possible purchasing resumption, if the asset exceeds the trading range. 5,098.5/5,114.5. If you follow this movement and break the 5,131/5,136 points, you can intensify the flow of purchases, in order to seek the range of 5,173.5 points,” he says.
However, it is worth paying attention to the main support ranges. If the sales flow resumes and breaks the 5,075/5,057.5 points, can boost the sales flow, in order to seek the range of 5,032 with a longer target in the region of 5,021 points.

Dollar Futures (WDOK24): 60-Minute Chart

Analyzing the 60-minute chart, it is possible to observe that the mini-dollar closed with a strong drop in the last session, and has the potential to continue. To do this, it will be necessary to break the range of 5,0755,057.5 points. However, it is worth paying attention to the distance from the averages, as such movement can cause increases.

“For the asset to resume its buying flow, it must surpass the region of 5,090/5,110 points and then aim for a target in the range of 5,131/5,157 points. The longest objective will be in the range of 5,173.5/5,187 points”, says analyst Rodrigo Paz.

If it continues the downward movement, it should break the range of 5,075/5,057.5 points. If it is broken, it should aim for the 5,032/5,021 range, with a longer target at 5,006/5,000 points.

Technical Analysis Guides:

Check out more content about technical analysis on IM Trader. Daily, infomoney publishes what to expect from dollar and index mini contracts. The 1st in zero brokerage. Open your account at Clear.