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.
love the bars and how much approx. Love it
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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