chrisatom
Long

Broadening formations on DJI

DJCFD:DJI   Dow Jones Industrial Average Index
Dow has put in a lower low and reversed back into the range. It stalled at the monthly R1 pivot on Friday after a strong rally, but the next objective now is to make a higher high at the 27300 mark to complete both broadening formations and hit the MR2 pivot .
Do you think now is time to sell after hitting upper band?
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chrisatom ZaloRostam
@ZaloRostam, Hi, sorry for the delay i've been on holiday. The top of the formation is where it could run out of steam, monitor for a break above or rejection back into the range. At the moment it looks like its back into the range so short with stops above is good R:R for a move to the lower trend lines.
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