DOW JONES The RSI on 1D and 1W signal rally ahead.

This is Dow Jones on the 1D time-frame. The price made a bottom just before the 33040 Support of the June 21 2021 Low and is rebounding, about to test the 1D MA200 (orange trend-line) as a Resistance.

Below the chart, I've placed the RSI both on the 1D and 1D time-frames. On 1D, the RSI hit the multi month Support and rebounded and on 1W it hit the bottom of a 5 month Channel Down and rebounded. All these indicate that the market has formed a bottom and is at the early stages of a rally towards the Higher Highs trend-line. My target is just below the 1.236 Fibonacci extension at 37000.


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