DOW JONES approaching the 1D MA50

Following the new top on the Higher Highs trend-line of the multi-month Channel Up, the index got rejected and has been pulling back since. It is approaching the 1D MA50 (blue trend-line) which serves as a technical medium-term Support. If it holds then I expect a strong rally towards the 0.236 Fibonacci extension setting a personal target at 37000. See how the 1D RSI is also near its multi-month Symmetrical Support.



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