DOW JONES Rectangle for short term. Channel Up for long term.
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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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.
Follow us, like the idea and leave a comment below!!
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