The Dow Jones index is currently moving in a descending triangle, closing in on the upper boundary of the current downward channel.
If it manages to break out upwards it would be a strong indication that the current downtrend has finished.
However, if it breaks out downwards it will probably fall towards the next support lines drawn in pink.
If it manages to break out upwards it would be a strong indication that the current downtrend has finished.
However, if it breaks out downwards it will probably fall towards the next support lines drawn in pink.
I am carefully positive, looking to buy/hold. But I am still prepared for a smaller chance of a drop, therefore putting some tight stop losses in case it still goes south.