DOW JONES 1D MA50 supporting huge Inverse H&S push!

Dow Jones (DJIA) has been trading within a Channel Up for the past 15 months. The pattern that could be the strongest driving force however in the coming weeks is an Inverse Head and Shoulders (IH&S), which is about to complete its Right Shoulder.

As you can see this is being strongly supported by the 1D MA50 (blue trend-line) in the past 30 days and every such IH&S pattern in the last 2 years broke to the upside and hit at least its 1.382 Fibonacci extension.

The 1D RSI sequences between those IH&S fractals are identical and the current RSI Bearish Divergence matches perfectly all previous Right Shoulder formations that preceded the 1.382 Fib push.

As a result, a 46400 Target would be an ideal technical Higher High for the Channel Up.

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