Throwing a textbook at the charts it becomes clear at what is happening.
This is DIA Dow Jones ETF:
- A Clear double bottom formed that pushed DIA to recent resistance - yellow line
- Another rising wedge is forming which we will see correction, small correction.
- After small correction we will retest Resistance line again.
- AFTER the above we will form a DOUBLE TOP which we can retest resistance.
ALSO note the fibonacci levels at 0.618 we will have to close the gap at the green arrow.
This is DIA Dow Jones ETF:
- A Clear double bottom formed that pushed DIA to recent resistance - yellow line
- Another rising wedge is forming which we will see correction, small correction.
- After small correction we will retest Resistance line again.
- AFTER the above we will form a DOUBLE TOP which we can retest resistance.
ALSO note the fibonacci levels at 0.618 we will have to close the gap at the green arrow.