Two weeks ago, we gave the most optimal buy entry for Dow Jones (DJI) exactly at the bottom of its 4-month Channel Down:
The price has almost hit our 33100 Target and we think it is time to look into the longer term. We made a case on the idea above that Dow is currently repeating the October - November rally, as the RSI pattern is identical. In addition, that larger pattern could be an Inverse Head and Shoulders, which is a bullish reversal formation, in fact it may be characterized as the bottom formation of the 2022 Bear Phase.
As a result the target can be as high as the Shoulders Resistance, the Higher Highs trend-line. If it is inversely symmetrical to June, we can expect a +12.78% rise. This gives us a target for the next 4-6 weeks at 35400.
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The price has almost hit our 33100 Target and we think it is time to look into the longer term. We made a case on the idea above that Dow is currently repeating the October - November rally, as the RSI pattern is identical. In addition, that larger pattern could be an Inverse Head and Shoulders, which is a bullish reversal formation, in fact it may be characterized as the bottom formation of the 2022 Bear Phase.
As a result the target can be as high as the Shoulders Resistance, the Higher Highs trend-line. If it is inversely symmetrical to June, we can expect a +12.78% rise. This gives us a target for the next 4-6 weeks at 35400.
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** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!