DJIA is retesting the broken resistance line
DJIA is breaking above 29000 resistance. We have a retest now and a confirmed break above this resistance is giving us a higher probability of the long trade entries. A rejection here and a break below 28400 are required for the upside invalidation. The overall medium-term is an uptrend but we need to see and a continuation above 29000 would mean a hard upside extension. The instrument is in the upside continuation price action formation with this break higher above the congestion wedge.
Note – We are inclined to long trade entries with the stop loss below 29000.
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