DOW JONES - CRITICAL POINT OF DECISION

4. Apr. 2018

This 23k level is very critical for the DOW right now! While it has the potential to play out bullish as it would have made a beautiful double bottom if we can bounce from it it also has the potential to initiate a huge selloff since everyone is watching it!

Bullish indication on the daily:
- divergence in the histogram
- macd might be setting up for a bullish cross

Bearish indication on the daily.
-rsi might be making a symmetric triangle which would implicate continuation -> selloff

Sidenote: Even if it bounces it could only be a very short term rebound to then tackle new lows!


I hope this was helpful! Take care!