TradingShot

DOW JONES hit the 1D MA200. Buy fractal spotted.

Long
CURRENCYCOM:US30   Dow Jones Industrial Average Index
Dow Jones has had a very sharp two-day pull-back, which hit today the 1D MA200 (orange-trend-line). That came off an Inverse Head and Shoulders pattern (IH&S) that continues to resemble that of June - July. With the 1D RSI hitting the Symmetrical Support level of the July 19 low which initiated the strong rebound to the 0.236 Fibonacci extension , I expect the same sequence to be replicated and hit 37000 by the end of next month.



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