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.

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