DOW JONES on the short-term buy zone

Jan 10, 2022

Dow hit today the 1D MA50 (blue trend-line) for the first time since December 22. Within the 2021 Channel Up, this is a symmetrical support level both on RSI terms and from a price perspective with the Support Zone being within the 1D MA50 and the 1D MA100 (green trend-line). The sequence resembles a lot the July 08 - 19 fractal. The bottom was achieved exactly when the Ichimoku Cloud started to squeeze. I treat this as a short-term buy opportunity with a 37100 Target (0.236 Fibonacci extension).


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