DOW JONES: Ignore the pullback, this is a new bullish wave.

Dow Jones turned bearish again on its 1D technical outlook (RSI = 41.280, MACD = -138.420, ADX = 33.278) as it failed to hold the 4H MA50 as support today and crossed under it. The 1D MA100 is coming in as the next level of support, which formed the Dec 18th-19th low. According to the 4H MACD, the index formed during those 2 days a bottom similar to [4] of August 5th. As long as the 1D MA100 holds, it is more likely to see a bounce above the 4H MA50 again like August 13th. Our goal is a [5] wave, so we're targeting the R1 level (TP = 45,000).


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