DOW JONES Small pull-back possible but bullish long-term

May 2, 2023One and a half month ago we gave the most optimal buy entry for Dow Jones (DJI) exactly at the bottom of its 4-month Channel Down:

Right now the index is trading inside a shorter term Channel Up that is technically aiming at the 34900 Resistance, which is the December 13 2022 High, as part of its Higher Highs process. If however the 4H MACD currently completes a Bearish Cross, it is more likely to see one last pull-back below the 4H MA50 (blue trend-line) and near the 0.618 Fibonacci retracement level (33600) before the next rally.



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