DOW JONES Looking to break above the 3-month Triangle.
The Dow Jones Industrial Average (DJIA) has been consolidating within an Ascending Triangle since the April 01 High and recently is being supported by the 4H MA50 (blue trend-line) since June 17.
As long as it continues to hold, there are higher probabilities to finally break above the Triangle's top (Resistance 1). If it does, the pattern will transition into a Channel Up that will aim for a new Higher High.
The first Bullish Leg extended to as high as +7.52%. The 1.382 Fibonacci extension is technically the break-out target on these occasions, so our Target is in the middle of those levels at 41000.
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As long as it continues to hold, there are higher probabilities to finally break above the Triangle's top (Resistance 1). If it does, the pattern will transition into a Channel Up that will aim for a new Higher High.
The first Bullish Leg extended to as high as +7.52%. The 1.382 Fibonacci extension is technically the break-out target on these occasions, so our Target is in the middle of those levels at 41000.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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