It is clear that Dow just entered a resistance area 28065 - 29190. You can also draw those 2 levels in the daily chart and see that this area is a resistance.
another note in this chart is that any week closed near the week high of that week while the close inside the resistance area, that weak quickly been sold within following week or 2 .You can see the candles pointed by arrow. If they want to break this pattern ( we are talking weekly which is not easy), they have to close 3 weeks in arrow above 29190.
another note in this chart is that any week closed near the week high of that week while the close inside the resistance area, that weak quickly been sold within following week or 2 .You can see the candles pointed by arrow. If they want to break this pattern ( we are talking weekly which is not easy), they have to close 3 weeks in arrow above 29190.