DJIA can't move out of a symmetrical triangle, possibly drop
DJIA daily is not able to break out of a symmetrical triangle which is bearish. Furthermore, DJIA formed a Hanging man reversal candle stick pattern which is a bearish sign. The resistance is obviously too strong for breaking out which could be an indication f an imminent drop below the trend line and breaking down from the pattern which would be very bearish.
Volume increases while the price is not moving, which is bearish.
8, 20, and 50 days MA is close to price and will generate a massive move of DJIA in one direction or another.
RSI is neutral, while MACD is still in its symmetrical triangle which breaks out will be fast and strongly.
Overall: DJIA is close to the end of the symmetrical triangle and there is no place for a further move for it. Break up or down will be massive. There is an 80% chance for a break to be on the downside.
Volume increases while the price is not moving, which is bearish.
8, 20, and 50 days MA is close to price and will generate a massive move of DJIA in one direction or another.
RSI is neutral, while MACD is still in its symmetrical triangle which breaks out will be fast and strongly.
Overall: DJIA is close to the end of the symmetrical triangle and there is no place for a further move for it. Break up or down will be massive. There is an 80% chance for a break to be on the downside.
Consistency is the key of success....