The resent pattern formation of Dowjones looks to be making a Flag formation and a rising flag.
I am of belief that this will make 3-3-3-3-3 zig zag movements in this flag.
3 days ago, if Dowjones have not closed above the bottom trendline, then i would have thought of this as a diverging broadening pattern.
But closing above the bottom trendline comfortably is...
Simple positive reverse divergence.
While the world is thinking of crash, I am of the opinion that DJI will not only move up, but it’s also up to make a new high. White line is the Target.
This is just a chart pattern discussion. Please trade your hard-earned money on advice of a registered stock market expert. I am a newbie trader :)
DJI's significant "Strong Weekly Closing" confirmed breakdown. Besides this, extreme volatility spurt in VIX too signaling the weakness. Although i am a learner. But this is somewhat remarkable. So sharing this view!
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Including various Indices.
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#DOW JONES CHANGE THERE TREND EVERY DAY THAT'STHE ONLY TIME YOU CAN MAKE PROFIT THAT'S WHY I LOVE THIS TRADE.
# this time DOW JONES OVERBOUGHT great time to PUT(PE) but only for 1 Day.
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