The Dow Jones Industrial Average lost more than half of its summer growth, while the RSI indicator has first approached the oversold zone since June. So, the rebound started yesterday with a 1.35% hike, is imminent. The newly-formed "bullish engulfing" pattern suggests a continuation of the rise in the coming days.
The upside movement is unlikely to last long, but the Dow Jones is well-positioned to reach levels of 32,000 and 32,350 before the decline in global stock markets resumes.
This content is for informational purposes only and is not intended to be investing advice.
