DOW JONES Strong bullish leg within a Bullish Megaphone.

Dow Jones (DJI) gave us a strong bottom buy signal 8 days ago (see chart below):


On today's idea we look at the 1H time-frame, which offers a buy opportunity for quick 1-2 day profit as the index is on a strong bullish leg within a newly formed Bullish Megaphone. Based on the 1H RSI which turned overbought and the 1H MACD which just formed a Bearish Cross, this sequence resembles the August 28 - 31 fractal and we could be on a similar position as on August 30.

That was the final consolidation before the bullish leg made its peak on Resistance 1 (35100). Due to the Bullish Megaphone, this time it can go a little higher, so today's buy position targets 35150.

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