Dow Jones Index (DJI) - giant wedge | Technical Analysis

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The Dow Jones is fighting upwards, forming a giant wedge as it does so. This means that it is losing power as it pushes higher. After the breakout on Tuesday which crossed the key 12,300 level, we have seen two days of hesitation in the form of two long-legged dojis (today’s doji is not shown), but they have managed to stay above 12,300. Looking at the slope of the wedge, there is a good chance it will be able to test the old high of 12930.

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Spencer Li

Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.