DOW JONES hit its 1W MA50, 1st time since the U.S. elections!
DJIA hit the 1W MA50 (red trend-line) for the first time since November 02 2020 and the U.S. elections. At the time, this was the final bottom of the post COVID Channel Up, the index never saw this level again and the strong 2021 rally started.
Besides the 1W MA50, Dow also made a direct hit on the Higher Lows (bottom) trend-line of the long-term Channel Up that started early in 2021. The 1D RSI also just entered its long-term Support Zone, which provided 3 out of 3 accurate buy signals before.
As long as this pattern holds, the next long-term target and Higher High for Dow Jones is the 1.236 Fibonacci extension (TP just below at 37000).
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Besides the 1W MA50, Dow also made a direct hit on the Higher Lows (bottom) trend-line of the long-term Channel Up that started early in 2021. The 1D RSI also just entered its long-term Support Zone, which provided 3 out of 3 accurate buy signals before.
As long as this pattern holds, the next long-term target and Higher High for Dow Jones is the 1.236 Fibonacci extension (TP just below at 37000).
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** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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👑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.