InvestingScope

Dow Jones: Buy opportunity on a pull back.

TVC:DJI   Dow Jones Industrial Average Index
DJI is trading on a 2 month long 1D Channel Up ( RSI = 67.760, MACD = 270.600, ADX = 45.275, Highs/Lows = 174.000) that seems to have reached an inner peak. With the RSI on the 4H chart also on the Resistance Zone , we are expecting a minor pull back that will give us the opportunity for a long position.

The current Support Zone is 28,900 - 29,010 with 28,700 as the last resort since the MA50 (4H) is there. Our TP is 29,600. Attention is needed as a break below the 4h MA50 risks testing the MA200.





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