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amanpaulbhogal

Pull back on the DOW after a trend reversal

Dow Jones Industrial Average Index (DJ:DJI)  
amanpaulbhogal  
DJ:DJI   Dow Jones Industrial Average Index
Bearish Engulfing stochastic-convergence rsi-convergence Bullish Trend Line
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bearishengulfing stochastic-convergence rsi-convergence bullishtrendline
After today's bearish engulfing bar close below the marked resistance area on the chart a pull back is imminent on the DOW Industrials daily time frame. Stochastic and RSI convergence, and recent trending price action structure show the increased likelihood of bullish momentum to ensue after a suggestive pull back.
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