New ATH on Dow Jones, Break Above Bull Channel Line
After creating bull spike on 2023, DJI has been moving within a bull broad channel since January 2024.
At the moment, DJI has broken above wedge top and reached above its bull channel line.
In general, breakouts above bull channel line will be reversed into channel area after maximum 3 bars. The whole context is trading range and I'm waiting for reversal down to channel/trading range area for shorts.
** Divergence is also shown on chart and RSI has reached to overbought area.
At the moment, DJI has broken above wedge top and reached above its bull channel line.
In general, breakouts above bull channel line will be reversed into channel area after maximum 3 bars. The whole context is trading range and I'm waiting for reversal down to channel/trading range area for shorts.
** Divergence is also shown on chart and RSI has reached to overbought area.
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