Key Resistance: 34100 – 34500
After falling and closing extremely bearish last Friday, the Dow rejected the 33000 level printing a super bullish daily candle (+2.76%). The last 2 days have been very rangebound for the Dow but price printed a continuation pattern (flat triangle) right at the previous broken base.
Buyers keep picking up price higher and higher creating higher lows with a flat top.
This pattern has a very high probability of success and with the addition of expected lower unemployment claims from the US we could see momentum after the break of this zone.
Our stops are below Tuesday’s lows because this is the first low of this pattern and should price break below it our trade idea is no longer valid.
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