Technician
Long

DJIA Forming a Double Bottom?

FX:US30   Index of top 30 shares on Wall Street
1771 9 46
Dow Industrial along with other indices have hit key support levels. Where I expected a bounce in the short term(see related links below).
I have posted a long trade in my Forex Trade Ideas section, that has been going pretty well. The price is very close to first target. Which is a the neckline for the potential double bottom pattern that's in play.

A break above the neckline will probably signal more upside and clear the way to the second targeted area around next resistance level . Which is also near the 200-days Simple moving average .

Regards,
Technician
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Great Trade! Now what are you expecting?
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I am out buddy for now. I will be monitoring for a new signal.
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hi is the us30 still go up
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We have just completed a breakout, second target insight. But anyway, i wouldn't be so excited about this rally!
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I think you can reach the 17150-area. Demand is still in control on the daily.
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Nice trade.
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Yes, that was also my idea yesterday. But not I switched back to being bearish, because the rally looked too extreme and Iran said they won't freeze their own oil production.

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ChartArt ChartArt
... but now I switched back ...
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I remain skeptical for any sustained rally. I was looking for this short term bounce.
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