Dow Outlook – Bullish break from Flag formation

Resistance – 17,934, 18,000, 18,167

Support – 17,811, 17,710, 17,500

Pattern – Bullish break from flag formation

• Daily chart shows a bullish break from flag formation, which indicates continuation of rally from February low.
  

• Daily RSI has also seen a bullish break.
  

• Consequently, 2016 high of 17,934 stands exposed.
  

• Bullish invalidation is seen only if prices see a day end closing back inside flag formation.