DAILY CHART
HOUR CHART
- First chart is the Dow Jones Futures daily chart which is trading outside the ascending channel. There is a resistance line drawn at the top of the daily chart. Good Moves in favour of the bulls are only possible if the resistance line is broken convincingly and at least a daily close happens above the resistance line. But the more time price spends below or outside the channel it increases the risk of a breakdown.
- The second chart which is the hour chart shows a triangle formation with one false breakout to the upside. This pattern may give an early clue to which side the daily chart is going to go. Since we already had a false breakout the next breakout may be a legitimate one.
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