DOW JONES: Rejected on the 2week Resistance. Any change to recov

Dow Jones is having a sharp opening pullback on the 1H timeframe but remains on a bullish 4H technical outlook (RSI = 58.586, MACD = 126.970, ADX = 41.565), as the HL trendline of the Bullish Megaphone is holding. The reason for the pullback is the rejection on the R1 Zone (35,100 - 35,030). A 4H MACD Bearish Cross will most likely take the price to the HL trendline and the 4H MA50 (TP = 34730) in order to test the buying accumulation at the bottom of the Megaphone.

A buy signal consists over the R1 Zone, whose target will be the Megaphone's HH trendline (TP = 35,400).

Prior idea:


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