DJI broke above the middle of the Channel Up (4H RSI
= 75.071, MACD
= 190.800, ADX
= 49.424) that it is trading in since the June 15th bottom, and is currently consolidating. That middle line has been particularly important as on all previous occasions it provided a rejection. The MACD
is also trading inside the July Sell Zone. As a result, we are expecting a pull back to the 4H MA50 and in extension the MA200.
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