Long
DOW JONES: Rejection on the 4H MA50 keeping it neutral
Dow Jones found Support on the S1 Zone as we called last week (see idea at the end) and closed 4 straight candles inside it. The 1D time-frame remains technically red (RSI = 37.784, MACD = -381.660, ADX = 48.656) and the rejection on the 4H MA50 is keeping the price at bay. This appears to be like the rejection on December 21st 2022, which kept the price inside an Ascending Triangle before a rise to the top of the Channel Down. We will maintain our bullish persctive within this patternand target P1 (TP = 33,450).
Prior call:
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Telegram: t.me/investingscope
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Over 65% accuracy on Private Signals Channel.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
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Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.