? Dow Jones Index Completes Bullish Triangle Chart Pattern ?

2 min read

Hi trders,

The Dow Jones Index (DJI) is building a triangle chart pattern after bouncing at the 38.2% Fibonacci retracement level. More upside is likely once price breaks above the triangle pattern.

DJI

Week


A bullish breakout above the resistance trend line (red) would confirm a potential uptrend continuation. A break below the support however would indicate a bearish reversal or extended correction.

Day


The DJI seems to have completed a wave 3 (purple) and price is now potentially building a wave 4 (purple). The triangle chart pattern seems to have been completed now that a potential wave E (light purple) is visible. The confirmation is the breakout.

Good trading,
Chris Svorcik
Elite CurrenSea

Leave a Reply

avatar

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  Subscribe  
Notify of

🍿️ Discover your path to a 100% yearly returns over the convos with Chris Svorcik!

X