DJCFD:DJI   Dow Jones Industrial Average Index
The Dow Jones started down-trending on June 8 and also painted a "Flag" pattern, but yesterday it broke out.
The RSI indicator is not tanking anymore, MACD shows a beautiful divergence, which signals a possible trend reversal.
For now, I am neutral (but more bullish than bearish ) on this particular play, because of the potential scenarios.
I see 3 of them;
>1. We backtest the resistance level (now it serves as a support level ), target: 25416.28, and later head to higher levels.
>2. It was a false breakout, and we might head to lower levels, for example, 25017.55
>3. We are going straight to the moon, first target: 26337.71, and the second one is 26985.6

Comments

"To Infinity and Beyond!" is what the star investor and the Chair of the Federal Unreserve "Buzz Lightyear" always says in the "Toy Money" and "Even More Toy Money" films by Disney's QE Animations Studios.
+3 Reply
@ReallyMe, haha
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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, like you said) with indicators pointing 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.

But like you, I will be prepared for anything. I'm thinking by next week we will have a better idea of what exactly is happening.
+1 Reply
Hi really great chart, is there a chance to focus on Kyber for next ten days regarding to BTC ? some money invested in this thing, hope it will be pump. But not so sure. Any chart/ analysis will be great :)
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benedekdomotor DawnButlers
@DawnButlers, I will look into it
Reply
Does to infinity and beyond relate to SPCE too? :P
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