DOW JONES: Started rising, at least on the short term.

31 באוק׳ 2023

Dow Jones went from oversold to neutral on its 4H technical outlook (RSI = 51.457, MACD = -63.520, ADX = 28.038) as the price bottomed on the LL trendline of the three month Channel Down and rebounded straight to the 4H MA50 today. This is the short term Resistance, a closing above it confirms the 2nd part of the rally to the 4H MA200.

The 4H MACD is on the same Double Bullish Cross bottom formation as October 4th. The rally that followed rose by +4.05%. Consequently our bullish target (TP = 33,500) is under a max +4.05% range, as well as the 4H MA200 and the dashed LH trendline.

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