DOW JONES crossed below the 6 month Channel Up.
Dow Jones is waving a strong bearish break out signal as it crossed under the bottom of the 6 month Channel Up today and most likely will close that way.
This means that the trend is shifting to bearish on the medium term as a new Channel Down could emerge.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 33840 (MA200 (1d)) and if it breaks after a small bounce target extension 33200 (bottom of Channel Down).
Tips:
1. The RSI (1d) is trading in a Channel Down of its own. Last time it did was from December 2022 to March 2023 and as you see that price action is similar to today's. It bottomed some way under the MA200 (1d), which is consistent with our target extension.
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Notes:
Past trading plan:
This means that the trend is shifting to bearish on the medium term as a new Channel Down could emerge.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 33840 (MA200 (1d)) and if it breaks after a small bounce target extension 33200 (bottom of Channel Down).
Tips:
1. The RSI (1d) is trading in a Channel Down of its own. Last time it did was from December 2022 to March 2023 and as you see that price action is similar to today's. It bottomed some way under the MA200 (1d), which is consistent with our target extension.
Please like, follow and comment!!
Notes:
Past trading plan:
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