Dow Jones touched yesterday the 1D MA100 and with it turned the 1D technical outlook neutral (RSI = 47.338, MACD = -251.570, ADX = 41.460). As presented last time (see idea link at the bottom) the rebound level was the bottom of the Channel Up and now that is confirmed as the 1D MACD formed a Bullish Cross.
Much like the bearish wave of February-March, the 1D MA50-100 Bearish Cross signifies the bottom and the beginning of a new long term rally. Since the drop has been remarkably similar (both -6.46%) it is possible that the rise will be proportional too (+7.18%). This will be a little over the R1 level (TP = 35,100).
Prior idea:
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Much like the bearish wave of February-March, the 1D MA50-100 Bearish Cross signifies the bottom and the beginning of a new long term rally. Since the drop has been remarkably similar (both -6.46%) it is possible that the rise will be proportional too (+7.18%). This will be a little over the R1 level (TP = 35,100).
Prior idea:
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.