DOW JONES made 1st 4H Golden Cross in 6 months!

١٤ مايو

Dow Jones (DJI) gave us a solid bullish break-out signal after it broke out above its 1D MA50 last week (May 06, see chart below):

As you can see this gave way to a new Channel Up, which we view on the current analysis on the 4H time-frame. That is because on Friday it formed the first 4H Golden Cross in 6 months (since November 08 2023)!

This is on its own a very strong bullish signal but it gets even stronger if we consider the fact that the last 4H Golden Cross was formed while the index was in a similar pattern, recovering from August - October correction.

Dow then entered a very aggressive uptrend/ Channel Up that never broke even its 4H MA50 (blue trend-line) before January. As a result, we move our short-term Target even higher, on a symmetrical +3.45% Bullish Leg at 40300, which will be a new All Time High (ATH) for the index.

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