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TheCryptagon
Nov 4, 2023 5:41 PM

DOW JONES Above the 1day MA50 after almost 2 months! Long

US 30Capital.com

Description

Dow Jones / US30 crossed on Friday over the 1day MA50 for the first time since September 15.

It hit Resistance A (34150) which was the October 17th High and completed so far 5 green days in a row almost at the top of the Bearish Megaphone.

The long term pattern is a Channel Up, so there is still considerable upside left.

The 1day RSI also crossed over its Falling Resistance much like the March 29th fractal, which after a short consolidation on Resistance A, it hit Fibonacci 0.786.

Buy if the price crosses over the Bearish Megaphone and target 34950 (0.786 Fibonacci).

Previous chart:



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