Description
⋅ The Down Jones Industrial Average Index just broke below support after hitting a new all-time high and is looking quite bearish.
The next move is clearly depicted on the chart above.
We are looking at a bearish RSI and MACD.
After a failed bounce, EMA50 (26677.5) is going to be tested next. If this level fail, the DJI is very likely to move lower all the way to 26198.9.
At this level, 26198, a small jump can happen and depending on market conditions, the DJI will either bounce or go lower.
Lower is the what we are looking at right now.
Thanks a lot for reading.
Namaste.