DOW JONES High Channel Up symmetry points to 46000.

4 дек.

Dow Jones (DJI) easily hit our 45000 Target as suggested on our November 20 idea (see chart below), and immediately turned sideways, consolidating basically for the past 6 days:

This is not the first time that we've come across this consolidation within the 4-month Channel Up as the exact same sequence was last seen during September 20 - October 08. As with today's price action, the consolidation also took place above the 1.0 Fibonacci level and once completed, it gave one final push to the 1.5 Fibonacci extension before correcting back to the 1D MA50 (blue trend-line).

As a result, we now set a new Target for the end of the year at 46000.

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