DOW JONES: Hit all of our targets. Expect a retrace.
As Dow Jones hit the 4H MA200 today turning 4H technicals overbought (RSI = 71.290, MACD = 117.130, ADX = 48.966) it also achieved the two targets we set last week:
Our whole plan was based on the huge demand on the November Support and the fact that the previous drop to that Support was very similar to February's. If this continues to hold, then we are at the part of the sequence as denoted by the circles. A retrace to Fibonacci 0.382 level would be very reasonable technically and once the 4H RSI turns neutral again below 55.000, we will buy again and target Fibonacci 0.786 (TP = 34,050).
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Our whole plan was based on the huge demand on the November Support and the fact that the previous drop to that Support was very similar to February's. If this continues to hold, then we are at the part of the sequence as denoted by the circles. A retrace to Fibonacci 0.382 level would be very reasonable technically and once the 4H RSI turns neutral again below 55.000, we will buy again and target Fibonacci 0.786 (TP = 34,050).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.