DOW JONES entered the rejection zone. Long-term trend decider!

The Dow Jones Index (DJI) has finally entered the Rejection Zone that we wrote about last week, consisting of the 1D MA200 (orange trend-line) and the 0.618 Fibonacci retracement level:


With the RSI on the 1W time-frame at its highest level since January 17 2022 but more importantly the 1W MACD on the first Bullish Cross since this 8 month Bear Phase started, it is very likely that we've finally reached the point were the long-term trend shifts from bearish to bullish. However only a weekly closing above the 1D MA200 can confirm that. Until then, being so close to it offers a great Risk/ Reward trade using the tight SL approach just above it to limit the risk and target the 1D MA50 (blue trend-line).

A 1W close above the 1D MA200 should be enough to target the 35540 - 35875 Resistance Zone on the short-term. Important note that may go under the radar: the 1W MACD histogram posted in August its first green bars since May 2021, more than a year ago.


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