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!