DOW Headed up to 37 -> 40k
Quick post - Daily 50/200 EMA shows a golden cross, W pattern / double-bottom breakout re-tests have succeeded in staying above the upper trend-line.
It also continues bouncing off the 50 EMA.
We may find some resistance in the area of the red box. TP 1 is ~37.8k, TP is ~40.2k, expecting a pit stop around 35k in the resistance area as it makes its way towards suggested targets.
DXY finds new troughs in correlation with DJI finding new peaks. Our recent lows on DJI correspond to DXY's recent peak. DXY has fallen back to the area where it broke out, suggesting a recovery. Should it remain below 102-103, that recovery could be extended. If it gets and stays well above 103 again, this recovery will be short lived.
If DXY turns up above 103 and becomes bullish again, we could see a double-top instead of reaching targets above previous ATH.
It also continues bouncing off the 50 EMA.
We may find some resistance in the area of the red box. TP 1 is ~37.8k, TP is ~40.2k, expecting a pit stop around 35k in the resistance area as it makes its way towards suggested targets.
DXY finds new troughs in correlation with DJI finding new peaks. Our recent lows on DJI correspond to DXY's recent peak. DXY has fallen back to the area where it broke out, suggesting a recovery. Should it remain below 102-103, that recovery could be extended. If it gets and stays well above 103 again, this recovery will be short lived.
If DXY turns up above 103 and becomes bullish again, we could see a double-top instead of reaching targets above previous ATH.
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