DJIA is retesting the broken support line
DJIA is retesting the previously broken support line 28500. A close above 28000 is required for the upside continuation and extension higher to a new high. For a complete bearish downside reversal breakout and higher probability short trade entries, we need to see a confirmed break below 28000. A break below this level would lead to a pullback and a test of 27000. The overall long-term is an uptrend and we need to see a break below 26700 for a complete downside reversal.
Note – We are inclined more to short trade entries with the stop loss above 28500
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