Technical break suggests further gains for ETF over Dow Jones Transportation Average Index

Saxo Capital Markets Australia

Multi-asset trading platform

The ETF over the Dow Jones Transportation Average (IYT) has made a clear break out of an inverse head-and-shoulders formation and the technical set up suggests there are further gains to be made, say Sydney-based Saxo traders. According to the traders, the profit targets are broken down by the respective Fibonacci numbers as a ratio of the distance between the head to the neckline. The current levels have acted as areas where the ETF has experienced some good support in Q4 of 2014 and Q1 of 2015. Click the following link to know about Saxo's suggested trading opportunity with this ETF: (VIEW LINK)


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