InvestingScope
Long

Dow Jones: Channel Up turned into a Triangle.

DJCFD:DJI   Dow Jones Industrial Average Index
Dow Jones is extending the rebound on the Higher Low made yesterday on the 1W Channel Up ( RSI = 51.067, MACD = 249.310, Highs/Lows = 0.0000) after the Nonfarm Payrolls missed the forecast today. This fundamentally bullish for the stock index (Fed and rate cut outlook).

Technically the 1W Channel Up failed to make a Higher High last month so the medium term overlay can turn into a Triangle. Thus we revise our target on a Lower High at 27,200.





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Comments and likes are greatly appreciated.
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been watching the channel myself, got so distracted with nice bearish move, I hadn't picked up on the triangle yet. thanks for this analysis.
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love the bars and how much approx. Love it
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What "Channel Up" is this talking about? It's just an illusion. There has never been any.
+1 Reply
@ReallyMe, We think it is visible on the chart. We also explain how the formation may transcend into a Triangle.
+1 Reply
ReallyMe InvestingScope
@InvestingScope, Thank you
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