DOW JONES Any pull-back is a short-term buy opportunity.The Dow Jones Industrial Average Index (DJIA) is completing an Inverse Head and Shoulders (IH&S) pattern following the recovery of its 4H MA50 (blue trend-line). Since the dominant medium-term pattern since the April 19 Low is a Channel Up, any pull-back this short-term IH&S offers, is a technical buy opportunity.
The previous Channel Up Higher Low of May 30 offered one final Higher Low pull-back below the 4H MA50 before the new Bullish Leg started towards the Channel's top (Higher Highs trend-line). Check how their 1D RSI fractals are similar among the two sequences.
As a result, once today's Fed euphoria recedes, we expect one last buy opportunity to emerge with a short-term Target of 42000 (top of blue Channel Up), if note higher on the Diverging Channel Up.
-------------------------------------------------------------------------------
** 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. **
-------------------------------------------------------------------------------
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
