DOW JONES: Testing the 4H MA200 for the 1st time in 3 weeks

Dow Jones broke today the 33,460 - 33,500 Resistance Zone that was intact since December 22nd. At the moment it is attempting a test of the 4H MA200, the first since December 15th. Trading within a Channel Up and with 4H technicals bullish (RSI = 62.540, MACD = 15.660, ADX = 24.447) while the 1D MACD is about to make a Bullish Cross, we expect a strong bullish trend if the price breaks and closes above the 4H MA200, with 34,900 (December 13th Resistance) the Target. Preferably we would like to see a break above the Channel Up as well.

A break below the Channel Up will be a short-term sell opportunity with the 1D MA200 as the target, while further break below it, will target the 31,710 Support (November 3rd).



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