DOW JONES: Bottom similar to December. Buy opportunity.

Feb 28, 2023

Dow Jones is technically heavily bearish on both the 4H and 1D time-frames (RSI = 34.017, MACD = -241.550, ADX = 52.078) but the 4H RSI has been rising for the past week, despite the corrective wave on the index. This price action is similar to the late December that ended with a bottom formation. Even the patterns that preceded this are similar.

We are turning long again on Dow, targeting both the 4H MA50 (TP = 33,200) and 4H MA200 (TP = 33,600).

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