DOW JONES Inverse Head and Shoulders close to a bullish breakout

Dow Jones (DJI) has completed an Inverse Head and Shoulders (IH&S) pattern, having formed the Right Shoulder supported by the 1D MA50 (blue trend-line).

The price is now slowly rising to test the upper neckline and if broken, expect a strong movement upwards. Technically, such patterns target their 2.0 Fibonacci extensions. The current one is at 49200 and that's our long-term Target. If you seek lower risk, you may target the 1.5 Fib extension.

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