DJ30 is has just broken a recent resistance, which turned out to be support and the market is marking the support level with bullish confirmations to continue another bull impulse upwards. The market has formed higher highs and higher lows with the probability of further scaling up towards the higher side.

The descending trendline has also broken out for buys and the market has restructured and validated the bullish price action for the continuation upwards.

There is no retracement in this particular bull move as the market needs to pivot to continue moving up.

EMA 50 is bullish and the market may not retest it at the EMA 50 as its at the bottom below the support level. 

RSI 14 is at 60. It needs to neutralize at the 50 level in order to align with the technical parameters for the market to continue its bull run.

DJ30 37800 buys

Jan 23 2024