DOW JONES Will the 1week MA200 save the day?

Dow Jones / US30 almost reached its 1week MA200 today and immediately rebounded.

Last time it approached it so closely was on October 23rd 2023 and last it crossed under it was September 19th 2022.

The most recent was the first higher low of the 3 year Channel Up and the latter was the bottom of the last bear market.

The 1week RSI hasn't been this low since June 13th 2022, which was again a near 1week MA200 test that caused an immediate rebound to the 1week MA50 before the rejection to the eventual bear market bottom.

As long as the 1week MA200 holds and closes the candles over it, we expect the Channel Up to start a near bullish wave like post October 2023.

Target 45200 (same as the March 2024 rally) which is around the All Time High.


Follow us, like the idea and leave a comment below!!