DOW JONES Early sell signal for next week.
Dow Jones / US30 is trading inside a Channel Up pattern since September.
The index is on the latest bearish wave at the moment, having been rejected at the top of the Channel Up.
The 1day RSI just crossed under the MA trendline, which on 3 out of 4 occasions in the last 4 months, was a bearish signal.
The previous 2 bearish waves of the 3 month Channel Up delivered a -3.80% correction.
Sell and target the same correction at 42850, which just so happens to be exactly at the top of the Channel's buy zone.
Previous chart:
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The index is on the latest bearish wave at the moment, having been rejected at the top of the Channel Up.
The 1day RSI just crossed under the MA trendline, which on 3 out of 4 occasions in the last 4 months, was a bearish signal.
The previous 2 bearish waves of the 3 month Channel Up delivered a -3.80% correction.
Sell and target the same correction at 42850, which just so happens to be exactly at the top of the Channel's buy zone.
Previous chart:
Follow us, like the idea and leave a comment below!!
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