Long
DOW JONES almost on our target. What's next?
Two weeks ago, we gave the most optimal buy entry for Dow Jones (DJI) exactly at the bottom of its 4-month Channel Down:
The price has almost hit our 33100 Target and we think it is time to look into the longer term. We made a case on the idea above that Dow is currently repeating the October - November rally, as the RSI pattern is identical. In addition, that larger pattern could be an Inverse Head and Shoulders, which is a bullish reversal formation, in fact it may be characterized as the bottom formation of the 2022 Bear Phase.
As a result the target can be as high as the Shoulders Resistance, the Higher Highs trend-line. If it is inversely symmetrical to June, we can expect a +12.78% rise. This gives us a target for the next 4-6 weeks at 35400.
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The price has almost hit our 33100 Target and we think it is time to look into the longer term. We made a case on the idea above that Dow is currently repeating the October - November rally, as the RSI pattern is identical. In addition, that larger pattern could be an Inverse Head and Shoulders, which is a bullish reversal formation, in fact it may be characterized as the bottom formation of the 2022 Bear Phase.
As a result the target can be as high as the Shoulders Resistance, the Higher Highs trend-line. If it is inversely symmetrical to June, we can expect a +12.78% rise. This gives us a target for the next 4-6 weeks at 35400.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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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.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
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.