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DOW JONES: Turned the previous Resistance into Support.Dow Jones is bullish on its 1D technical outlook (RSI = 63.922, MACD = 449.140, ADX = 44.993) as it recovered yesterday's losses but more importantly it is rebounding at the top of the former Channel up. Having broken over it 3 sessions ago, two short term patterns emerged a Rising Wedge (HH, HL) and a Channel Up. If the HH trendline is crossed, it will be the perfect buy signal to target the top of the short term Channel Up (TP = 44,000). The 1D RSI shows that a rally similar to July 10th is possible. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
DOW JONES: Small pullback will offer a buy opportunity.Dow Jones is about to turn neutral on the 1D technical outlook (RSI = 57.040, MACD = 399.580, ADX = 38.469) as it crossed below its 4H MA50, withi the 4H RSI already on a bearish divergence, pointing to a short term correction. We expect that to be on or a little under the 4H MA200 and then rebound (over the 0.5 Fibonacci level) like the September 11th low. Like then, we are targeting the 1.236 Fibonacci extension (TP = 43,200). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
DOW JONES: Is it forming a BLOW OFF TOP??Dow Jones isn't just having a strong bullish momentum on the 1D timeframe but also on its 1W technical outlook where it maintains a steady bullish overall indicator score (RSI = 64.010, MACD = 036.840, ADX = 29.553). However there are growing concerns coming from the 1W chart as the 1W RSI is posting a Bearish Divergence, trading on a Channel Down while the actual price is on a Channel Up. This is alarming because last time this showed up was in late 2021 and as we all know led to the bear market of 2022. However the Bearish Divergence prior to that (mid 2017) was false and Dow continued to rise instead for another 4 months before a correction to its 1W MA50. And that is the level that plays the most important role here, the 1W MA50. As long as it continues to support, we will have a bullish trend. Actually, Dow seems to be attempting a breakout over the Channel Up this month, unlike December 2021. Failure to break though can result into a blow off top. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
TVC:DJI
by InvestingScope
DOW JONES: Two levels to buy.Dow Jones is bullish on its 1D technical outlook (RSI = 62.964, MACD = 188.520, ADX = 55.476) and has completed three green 1W candles in a row. Having reached the 0.786 Fibonacci level, the last confirmation left to see in order to call for a continuation of this uptrend is for the 1W RSI to cross over its MA. The moment it does, we will buy again and target the Channel's top (TP = 42,000). Until that moment, we will wait for a more comfortable buy lower at 38,550 (TP = 42,000 again). See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
DOW JONES: Pattern worked like beauty. Technical rebound.Dow quickly turned neutral again on its 1D technical outlook (RSI = 49.651, MACD = -238.11, ADX = 37.915) not staying for long on its previous bearish state as after hitting our TP = 37,300 it rebounded emphatically and is about to test the 1D MA50. The pattern was the same as the prior corrections inside the Channel Up: pullback to the 0.382 and -6.95% in particular like on December 20th 2022. Now the price should at least retrace to the 0.786 Fib on this bounce. Long TP = 39,350. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
DOW JONES: Short term decline started.Dow Jones is still on a bullish 1D technical outlook (RSI = 61.232, MACD = 275.500, ADX = 55.346) but today's red 1D candle, being the strongest since February 13th, is a first hint that a short term correction is starting. The price has almost made a HH at the top of the 18 month Channel Up, so the probabilities of a technical pullback are getting stronger. Both prior HH touched the 1D MA200 and the middle of the Channel Up. As a result a -6.90% decline (like December 20th 2022) seems a modest target (TP = 37,300) as it will hit the middle of the Channel Up, even approach the S1 level. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
DOW JONES: Make or break at the top of the Triangle.Dow Jones rebounded on the 4H MA200 and the HL trendline of the Triangle pattern and turned bullish again on the 1D timeframe (RSI = 61.324, MACD = 179.870, ADX = 45.459). As the 4H MACD is on a Bullish Cross, we have a clear sequence to follow, bullish if it closes over the LH trendline (TP = 39,450) and bearish if it doesn't (TP = 38,700). The targets are the 1.5 Fibonacci extension and the HL trendline respectively. From a fractal point of view, the MACD looks much like the January 19th 2024 bullish breakout. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
1
DOW JONES: Mega sell signal formed.Dow Jones has hit the top of the 18 month Channel Up and is already being rejected, turning neutral on the 1D technical outlook (RSI = 51.769, MACD = 112.170, ADX = 21.784). This is a rejection that can evolve into a full bearish reversal as the 1W RSI broke under its MA trendline. This is important because every time this break out happened (dashed vertical lines), the index had technical corrections. Inside the Channel Up those initially hit the 0.382 Fibonacci level. Consequently, we can target at least the S1 level (TP = 37,030) but it is equally likely to reach even below the 0.382 Fib and contact the 1W MA50. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Short
by InvestingScope
DOW JONES: Overbought and at the top of the Channel Up. Bearish Dow Jones is on a bullish 1D technical outlook (RSI = 59.534, MACD = 196.180, ADX = 37.569) that up to last week was overbought but now the momentum shows weakness on losing steam as the price is at the top of the Channel Up pattern. The 1D CCI is showing the same decline from overbought levels that it showed before the three major declines in 2023. This keeps us bearish on Dow, targeting the 0.382 Fibonacci level (TP = 36,500) which was the first target of the two prior HH of the Channel Up. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Short
by InvestingScope
1
DOW JONES: Started rising, at least on the short term.Dow Jones went from oversold to neutral on its 4H technical outlook (RSI = 51.457, MACD = -63.520, ADX = 28.038) as the price bottomed on the LL trendline of the three month Channel Down and rebounded straight to the 4H MA50 today. This is the short term Resistance, a closing above it confirms the 2nd part of the rally to the 4H MA200. The 4H MACD is on the same Double Bullish Cross bottom formation as October 4th. The rally that followed rose by +4.05%. Consequently our bullish target (TP = 33,500) is under a max +4.05% range, as well as the 4H MA200 and the dashed LH trendline. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
DOW JONES: Support Zone intact. Buyers are favored short term.Dow Jones is volatile on the 4H timeframe (RSI = 37.485, MACD = -170.620, ADX = 29.943) after almost testing the S1 level (32,813) yesterday but following a 4H MACD Bullish Cross formation, it is a low risk buy opportunity. The rejection of the previous rise took place on the 4H MA200, so that is our target again. Buy and TP = 33,700. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
DOW JONES: Rejected on the 2week Resistance. Any change to recovDow 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: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
2
DOW JONES: The Channel bottomed. Strong buy opportunity.Dow Jones is once more near the HL of the five month Channel Up. The neutral 1D technical outlook (RSI = 46.013, MACD = -68.570, ADX = 21.330) further suggests that this is a low risk buy opportunity. The HL on the 1D RSI is consistent with the trendlines of May 31st and March 22nd all of whom where bottoms. As long as the 1D MA100 holds, we will be on a long position aiming at a +6 rise in total (TP = 36,000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30Long
by InvestingScope
5
DOW JONES: On an important make or break 1D MA200 testDow Jones is trading inside a Channel Down on currently red 1D technicals (RSI = 42.150, MACD = -137.170, ADX = 39.695). For the past week though it has been mostly sideways between the 1D MA50 and 1D MA200. Today the 1D MA200 held but that alone is not a buy signal. If it crosses and closes over the 1D MA50, we will target first the R1 (TP1 = 33,650) and then the top of the long term Channel Down (TP2 = 33,900). If the price closes under the 1D MA200, sell and target the bottom of the Channel Down (TP = 32,000). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
U
by InvestingScope
8
DOW JONES Trading approach going into JuneDow Jones / DJI is trading inside a Channel Down pattern for more than a month. The price is now under the 4hour MA50 and as long as it closes there, sell and target close to Support A at 32600. A crossing (and candle closing) over the 4hour MA100 will be a short term buy signal targeting 33400 (top of the Channel Down). A crossing (and candle closing) over the 4hour MA200 will be a long term buy signal targeting Resistance A at 34260. Previous chart: Follow us, like the idea and leave a comment below!!
U
by TheCryptagon
8
DOW JONES Short term rise very likelyDow Jones is finding support on the 1day MA50, forming a Triangle pattern. The same pattern during the late December 2022 consolidation, broke upwards and reached the previous High. Up to this point, even the 1day RSI structures since the Falling Supports are very much alike. As long as Support A holds, buy and target 34200. If it crosses under the 1day MA200, sell and target 31700. Previous chart: Follow us, like the idea and leave a comment below!!
U
by TheCryptagon
20
DOW JONES: Harmonic pattern calling for a buy. TP = 34,350.Dow Jones is on a minor 3 day pullback after a strong rebound that closed over the 1D MA50. The 1D technicals are neutral (RSI = 48.264, MACD = 86.760, ADX = 23.509) and being on a Harmonic rise since March 20th Low, the 1D MA50 rebound is most likely the bullish wave to test yet again the R1 Zone. Unless S1 breaks, we are targeting the bottom of R1 (TP = 34,350). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
ULong
by InvestingScope
11
DOW JONES Top of the Channel Down but will it stop there?Dow Jones reached today the top of the Channel Down pattern. This is a rise almost proportional to July 14th-22nd (around 7%). Both crossed over the RSI Falling Resistance and at the same time the MA50 (1d). Trading Plan: 1. Buy as long as the 1d candle close over the MA50 (1d). 2. Sell if it closes under. Targets: 1. 34950 (Resistance 2). 2. 32600 (MA200 1d). Tips: 1. RSI (1d) of the two rises is at the same level after the breakout. Also both started rising on the 30.00 level, giving us more the impression that they are indeed similar patterns under same market conditions. Please like, follow and comment!! Notes: This is a continuation of this trading plan:
CAPITALCOM:US30
by TradingBrokersView
1
DOW JONES above the 1D MA50 for the first time in monthDow Jones hit (and closed over) the 1D MA50 on Friday for the first time in more than a month (Feb 20th last closing over it). With 1D technicals on very healthy bullish levels (RSI = 60.420, MACD = 12.500, ADX = 35.536) this is a very positive sign on the long-term. Especially since the RSI crossed over the 4 month LH trendline. Our TP (33,450) from our trade idea 2 weeks ago (see below) is almost hit, however short term traders need to start and consider the immediate Reistance levels that the index needs to break in order to extend the long term rally. This is firstly the 33,550 High of March 6th and secondly the top of the December Channel Down pattern. A 1D closing above each would be a bullish continuation signal that would target the next level of Resistance. Primarily we look for a closing above the Channel Down in order to target R1 (TP = 34,350). Conversly a rejection and closing under the 33,550 Resistance would target the lower Symmetrical Support (TP = 32,600). Prior idea: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
U
by InvestingScope
DOW JONES bottomed out on a 4 month Support!Dow Jones almost hit Support (2) at 32470 a level that worked out twice since November 9th 2022, starting strong rallies to 34390 (Resistance 1). The same Declining Support on price - Rising Support on the RSI (4h) Bullish Divergence was formed on the December 20th bottom. Trading Plan: 1. Buy on the current market price. Targets: 1. 33050 (MA50 (4h)) 2. 33500 (MA200 (4h) and bottom of the Pivot Zone. 3. 34300 (under Resistance 1). Tips: 1. The MA50 (1d) moves parallel with Support (2) and essentially has provided the same level of support pressure as that level. Trend changes long term if it breaks. Please like, follow and comment!!
CAPITALCOM:US30Long
by TradingBrokersView
5