Dow Jones may be trading inside a long term Channel Up but the medium term pattern is a Bearish Megaphone.
The last Bottom of the Channel Up was closer to the 1week MA200, this time the MA level is even closer, a strong candidate for a bottom.
The previous correction leg made a -10.15% extension, a new one of this size meets almost perfectly the bottom of the Channel Up and a little over the 1week MA200.
Sell to 32400 then reverse to buying and target 33600 (1week MA50).
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The last Bottom of the Channel Up was closer to the 1week MA200, this time the MA level is even closer, a strong candidate for a bottom.
The previous correction leg made a -10.15% extension, a new one of this size meets almost perfectly the bottom of the Channel Up and a little over the 1week MA200.
Sell to 32400 then reverse to buying and target 33600 (1week MA50).
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.