DJIA has been trading within a Channel Up since the U.S. elections last November. However since the May 10 Top, it has been trading under Lower Highs and Lower Lows which are the characteristics of a Channel Down.
Last time we had such pattern was the sequence before the U.S. elections, which turned out to be a giant Bullish Flag. The 1D RSI has bounced off the 1 year Support Zone, same as late October prior to the elections. Can this be a similar Bullish Flag? If yes then Dow Jones will aim at the 1.382 - 1.5 Fibonacci Zone.
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Last time we had such pattern was the sequence before the U.S. elections, which turned out to be a giant Bullish Flag. The 1D RSI has bounced off the 1 year Support Zone, same as late October prior to the elections. Can this be a similar Bullish Flag? If yes then Dow Jones will aim at the 1.382 - 1.5 Fibonacci Zone.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
--------------------------------------------------------------------------------------------------------
!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!
🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> StockSwinger
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