Bullish , yes but temperary (IMO). So please be careful.
In the TA we can see 2 trendlines (orange and black).The black trendline means the trend is still down (High, Lower high, Lower High,...)
So we can see there's heavy resistance around 33315 (dashed black line).
That's marked with the black circles. I Think that's the max the DJI will go.
IF we cross that target with a open and close candle above 33450 ( then and only then you can speak of a continuation from the bull market).
But keep in mind in these times, this should be unlikely, why? BECAUSE there's a high inflation , there's a high interest rates.
And the inflation will only come down when the economy will slow down. Stormy weather is coming (IMO)
Also if the DJI will reached the targed 33315, you will see the RSI is overbought. Same like last time (making double top in the RSI )
The Red trendline is line of the bear market meaning -20% under the ATH.
The end target you can see in my other previous idea's.
Time will tell
In the TA we can see 2 trendlines (orange and black).The black trendline means the trend is still down (High, Lower high, Lower High,...)
So we can see there's heavy resistance around 33315 (dashed black line).
That's marked with the black circles. I Think that's the max the DJI will go.
IF we cross that target with a open and close candle above 33450 ( then and only then you can speak of a continuation from the bull market).
But keep in mind in these times, this should be unlikely, why? BECAUSE there's a high inflation , there's a high interest rates.
And the inflation will only come down when the economy will slow down. Stormy weather is coming (IMO)
Also if the DJI will reached the targed 33315, you will see the RSI is overbought. Same like last time (making double top in the RSI )
The Red trendline is line of the bear market meaning -20% under the ATH.
The end target you can see in my other previous idea's.
Time will tell