TVC:DJI   Dow Jones Industrial Average Index
DJI rising wedge playing out. Hard to say whether a potential second wave of COVID-19 could make the market drop out of the wedge , until then its looking good.

If we fall out we could be looking at 24,000 and below.

Comments

I'm not sure if it will go up that high. But I do believe it will go up in the next few days. I see a descending triangle (or a flag pattern) with indicators pointing slightly towards an upward trend. The Stoch RSI and the MacD are showing an upward trend but I believe that will be short lived due to the convergence shown on the MacD. The Stoch RSI and the MacD should present a downward move within the next 9 to 13days.

I'm thinking by next week we will have a better idea of what exactly is happening. If it does go lower, I am looking at a resistance level of 23,087 or close to that.
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