DJI ascending triangle
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Dow Jones:
I still remain bullish on the dow jones even with last weeks correction. The dow has been in an ascending triangle ever since the Election. Recently it broke out of the Ascending triangle but recently broke back under. It has two support lines and it broke through the 1st one on friday and is currently forming a double bottom at the second support line which can indicate a trend reversal, so to the upside. Also RSI is near 30. I still see a recovery in the whole market heading into next week do to the Nasdaq making a 7% correction which is the average percentage of a correction. There are some risk, it could break below the support line and continue it’s downtrend, but we will have to wait and see.
Dow Jones:
I still remain bullish on the dow jones even with last weeks correction. The dow has been in an ascending triangle ever since the Election. Recently it broke out of the Ascending triangle but recently broke back under. It has two support lines and it broke through the 1st one on friday and is currently forming a double bottom at the second support line which can indicate a trend reversal, so to the upside. Also RSI is near 30. I still see a recovery in the whole market heading into next week do to the Nasdaq making a 7% correction which is the average percentage of a correction. There are some risk, it could break below the support line and continue it’s downtrend, but we will have to wait and see.
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