DOW JONES Is this a giant Bullish Flag?


DJIA has been trading within a Channel Up since the U.S. elections last November. However since the May 10 Top, it has been trading under Lower Highs and Lower Lows which are the characteristics of a Channel Down.

Last time we had such pattern was the sequence before the U.S. elections, which turned out to be a giant Bullish Flag. The 1D RSI has bounced off the 1 year Support Zone, same as late October prior to the elections. Can this be a similar Bullish Flag? If yes then Dow Jones will aim at the 1.382 – 1.5 Fibonacci Zone.


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