DOW JONES Above the 1day MA50 after almost 2 months!
Dow Jones / US30 crossed on Friday over the 1day MA50 for the first time since September 15.
It hit Resistance A (34150) which was the October 17th High and completed so far 5 green days in a row almost at the top of the Bearish Megaphone.
The long term pattern is a Channel Up, so there is still considerable upside left.
The 1day RSI also crossed over its Falling Resistance much like the March 29th fractal, which after a short consolidation on Resistance A, it hit Fibonacci 0.786.
Buy if the price crosses over the Bearish Megaphone and target 34950 (0.786 Fibonacci).
Previous chart:
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It hit Resistance A (34150) which was the October 17th High and completed so far 5 green days in a row almost at the top of the Bearish Megaphone.
The long term pattern is a Channel Up, so there is still considerable upside left.
The 1day RSI also crossed over its Falling Resistance much like the March 29th fractal, which after a short consolidation on Resistance A, it hit Fibonacci 0.786.
Buy if the price crosses over the Bearish Megaphone and target 34950 (0.786 Fibonacci).
Previous chart:
Follow us, like the idea and leave a comment below!!
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