DJIA – Analysis of the Weekly Chart:
The weekly candle chart of DJIA showed some important points.
1. The presence of a strong upward sided trend lines, that has been giving support to DJI for four times. This week, it also took support from this line.
2. The 30 dma line has given support for three time but this week it breached this moving average line but was able to recover it and sustain it by reasonable margins.
3. The shape of the candle in its self is a normal bullish candle reflects the potential of a bullish run.
So, the first target is at 41,200 and the second target is at 42,000, the stop loss is at 38,350 on closing basis.
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1wCongrats my dear friend 😊