DJIA Monthly Chart Review
Today you can review the technical analysis idea on a 1M linear scale chart for the Dow Jones Industrial Average Index (DJI).
In the chart, I added in the RSI as well as review the Great Recession history to get an idea of where the DJI is headed. It seems that the DJI has been moving up an ARC with a possibility to come down and touch it again. It is currently inside a descending channel . If DJI price falls as much as it did during the Great Recession, it could come down to the 18K level where there is strong support. The RSI could support that type of drop as it is no where near the oversold region.
This is presented on the monthly chart so please have patience.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
In the chart, I added in the RSI as well as review the Great Recession history to get an idea of where the DJI is headed. It seems that the DJI has been moving up an ARC with a possibility to come down and touch it again. It is currently inside a descending channel . If DJI price falls as much as it did during the Great Recession, it could come down to the 18K level where there is strong support. The RSI could support that type of drop as it is no where near the oversold region.
This is presented on the monthly chart so please have patience.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics
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