DOW JONES waiting for a rebound on its 4H MA50.

Dow Jones (DJI) gave us last week (October 01, see chart below) an excellent Buy Signal on its 4H MA100 (green trend-line) that almost instantly hit our 47000 Target:

This time it is the 4H MA50 (blue trend-line) that is providing the new buy opportunity as following the 47000 Higher High of the Bullish Leg, the index pulled-back on a Bearish Leg.

As you can see, the symmetry within this pattern remains high with all three Bullish Legs so far rising by around +2.75% and the 4 MA50 / 4H MA100 providing support for the Bearish Legs.

As a result, we expect a new short-term rebound, as long as the 4H MA50 holds, targeting the 1.5 Fibonacci extension at 47180.

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