DJIA daily returns into a pattern which is a good sign, but it is doing on lower volume which is more bearish than bullish. It touch the resistance line and got rejected right away which is a sign of weakness.
Volume does not confirm this move at all and is a sign of a likely move down.
Price is above all major MA which is bullish.
RSI is neutral.
MACD is showing some weakenest and is due to drop.
Overall: even though the price return in a triangle it doesn't show us a strong move. The is more chance for DJIA to drop than to have a strong up move. A drop below 20 and 50 days MA would confirm a bigger drop.
On the other side, a rise above the upper blue line would be an indication of the bull move.
Volume does not confirm this move at all and is a sign of a likely move down.
Price is above all major MA which is bullish.
RSI is neutral.
MACD is showing some weakenest and is due to drop.
Overall: even though the price return in a triangle it doesn't show us a strong move. The is more chance for DJIA to drop than to have a strong up move. A drop below 20 and 50 days MA would confirm a bigger drop.
On the other side, a rise above the upper blue line would be an indication of the bull move.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Consistency is the key of success....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.