DOW JONES Rectangle for short term. Channel Up for long term.

20 בפבר׳ 2023

Dow is in ranging mode on the short term inside a Rectangle. The 4hour MA50 is almost at the middle, so crossing above it is a long signal: Target 34250. Below it is a short signal: Target 33550.

On the long term the structure remains a Channel Up, in fact the price came very close last week to its bottom. If the price breaks the bottom it is a sell: Target 32965. If the Channel holds, it is a buy: Target 34750.

Observe how the 4hour RSI shows well enough the best entries for the Channel Up and for the Restangle alike.


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