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MoonPickle

Dow Jones Industrial Average - D1 TF - More Upside Action

Indice Dow Jones Industrial Average (DJ:DJI)  
MoonPickle Aggiornato   
DJ:DJI   Indice Dow Jones Industrial Average
Trend Analysis Chart Patterns DJI dowjones DOW Stocks Bullish Patterns
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trendanalysis chartpattern dji dowjones dow stocks bullish
Bullish divergence + MACD flip for fresh upwards momentum. Doesn't appear to be sustainable.

Needs to go over and stay above mid RSI to reinforce bullish move. Rejection at the mid-line is a sign of weakness.
Commento:
Smart Money Index bounce is weak. Downtrend channel established for the possibility of 'slow bleed' before major dip.

In another scenario, $DJI could rally one final time before a larger/longer sell off

snapshot
Commento:
looks like the second scenario is in play

broken downtrend channel = more upside action
Commento:
blood bath.

snapshot
Commento:
small buyers are trying to reverse this market, based on this formation. any movement up will be weak and met with strong resistance

but yes, it can still go higher from here before a major corrective wave
Commento:
as mentioned earlier, a major driver for upside action is for RSI to maintain its upward momentum, above 50+. It did not do that - based on the chart above
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