DOW JONES bounced at the bottom of the Channel Up. Buy signal.

Dow Jones (DJI) has been trading within a 3-month Channel Up, with last Friday's flash crash breaching marginally below its 1D MA50 (red trend-line). That touched the bottom of the pattern and is technically a Higher Low, identical to the what the previous Bearish Leg did on the August 01 Low.

As you can see both Legs declined by -4.00% with their 4H RSIs touching the -20.00 level and rebounded. That is a technical Buy Signal, the strongest you can get within this Channel Up, and as long as the pattern's bottom holds, we expect another rise to the 1.382 Fibonacci extension (Our Target is 47700), similar to August's Bullish Leg.

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