Bullish engulfing candle on the weekly charts
Weekly Line Chart
Line charts show the minor peak crossed successfully.Till the minor low of 1154 is broken the short term trend is up.
The Daily Line Chart has not been successful in giving a "Dow buy" signal.That is a bit confusing ! Wait for the daily to signal a buy by closing above 1219 before going bullish.
Resisted at the 50 dema and formed a small white candle indicating momentum may be stalling.The Bear flag is forming well and till it is broken decisively on the upside all Bull attempts will be curbed.
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