DOW JONES Crossed under the 4hour MA50. Short term sell signal.

2023년 6월 21일

Dow Jones has crossed under the 4hour MA50 and hit the bottom of the short term Channel Up.

Since December, every closing under the 4hour MA50 has been a sell signal (8 times) with a decline ranging from -1.66% to -4.74% from the moment of crossing.

As long as the Channel Up holds, buy and target Resistance A at 34900.

If the Channel Up breaks, sell and target Support A at 33400.

Then since that Support is near the bottom of the long term Channel Up started in March and represents a -2.00% decline from the MA50 breaking moment, buy for the medium term and target again 34900.

A very consistent buy signal is when the 4hour RSI enters the green Oversold Zone. That has issued a rebound back to the 4hour MA50 on all 7 occurrences since December.

Previous chart:

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