The daily chart of Dow Jones Industrial Average is not looking so well.
Firstly, the index reached the upper line of the uptrend channel, and there would be a short-term correction followed.
Secondly, MACD just showed a bearish cross at high level, which is a strong indicator telling us that the index no longer has momentum to continue its surge.
Thirdly, by using fibs projection, DJIA just rised as much as the boost last time. It is time for corrections.
Slump in volume further enhances my view. In short-term, the index would plunge. First support is at 10720, which is the last peak. If using fibs projection, it could slump till as low as 10300. Good luck!
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