As market volatility has died down in recent sessions, off the back of calming geopolitical tensions in Hong Kong, as well as between US-China, it appears that the 
DJI has broken out of its "Channel" formation and is moving higher.
Given this move, theDJI is trying to make a run for 26,876 - a Key Monthly Resistance Level (Blue) for the index.
One thing to lend support to theDJI move higher has been the fact that its RSI is showing positive divergence with current price action.
If theDJI can successfully "Breach and Close" above 26,876, it would be a good sign for the market.
Investors should watch this space.
DJI has broken out of its "Channel" formation and is moving higher.Given this move, the
DJI is trying to make a run for 26,876 - a Key Monthly Resistance Level (Blue) for the index.One thing to lend support to the
DJI move higher has been the fact that its RSI is showing positive divergence with current price action.If the
DJI can successfully "Breach and Close" above 26,876, it would be a good sign for the market.Investors should watch this space.
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Related publications
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.