INDU Dow Industrials daily chart over the last month has a potential two-leg bear flag in progress. A consolidation zone is finishing and a potential second leg down may begin. Price has been fighting with the 20 MA and is now only 10 points above. Today's doji candle may hint at a drop coming as well as the RSI should it drop under the 50% level. If price loses the 20 MA, then the 11800 would be in play as as a downside target for the second leg. This same pattern is on other indexes, for example, SPX would target 1280.
This pattern will be verified or nullified within a couple days. Watch price vs. the 20 MA. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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