DJI was strong enough to considerably bounce off the red strong trendline , it's actually quite a good first sign that it is strong enough to stay above the red trendline and/or the red rectangle area (24500-25250).In fact as long as it stays above the red rectangle area , Dow will be trying to break above the Major line (Green Line) .
The longer price remains above the white trendline , the better the chance for a break above the Major Line .
But if it fails to stay above the red rectangle and breaks below it , it would have a considerable probability to continue down , first, to the blue line (around 22500) .
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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.