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FXHighway
Jan 22, 2019 5:36 AM

Dow Jones heads for more gains Long

Dow Jones Industrial Average IndexTVC

Description

Target: 26000
Risk: 24290

Technical reasons:

The index returns to rise after succeeding to achieve our recent negative targets, and it completed bullish pattern that pushes the index to achieve more expected gains, as we are waiting the next target at 25170, and surpassing this level will push to 26000.

The exponential moving averages 50 and 100 support the price from below, while consolidating above 24290 is important to continue the expected rise.
Comments
thehoplite
actually, it looks like the start of the correction moves for the next few days and some consolidation for the next weeks until the trend is continued downward. I don't know, though, as earnings reports could give indication for neutrality or simply be a wash and take us down further without consolidating. The top is topped. I don't think we're going back anywhere near 26k on Dow. I think this whole thing is looking for any reason to ditch out because the market is BROKE.
FXHighway
@thehoplite, Let's wait the next move; 24200 is the key support for the bullish outlooks ..
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