As seen in the weekly graph Dow Jones Industrial Average Index had given a breakout from the parallel channel( indicated in bluish color). Which is a downtrend that started at the beginning of this year(2022).
Adding to that, a slight RSI positive divergence could be observed( indicated as yellow circles).
Also last week there is Doji formation in the weekly chart. Looks like the index is taking a rest and expecting the index to sustain above the 33200 level
Adding to that, a slight RSI positive divergence could be observed( indicated as yellow circles).
Also last week there is Doji formation in the weekly chart. Looks like the index is taking a rest and expecting the index to sustain above the 33200 level