DOW JONES: testing the 4H MA200 and is expected to rebound.

Dow Jones is on a neutral 1D technical outlook (RSI = 48.958, MACD = 306.300, ADX = 31.951) as the Channel Up pulled back to almost test the 4H MA200 for the first time since the September 11th Low. This is basically the top of the support zone of the Channel Up and based on the 1D RSI, a strong buy candidate. We turn bullish, aiming at the 1.5 Fibonacci extension (TP = 43,900).

See how our prior idea has worked out:

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