Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Dow Outlook – Bullish Break From Flag Formation

Resistance - 17,934, 18,000, 18,167

Support - 17,811, 17,710, 17,500

Pattern - Bullish break from flag formation

Daily Chart

  • Daily chart shows a bullish break from flag formation, which indicates continuation of rally from February low.
  • Daily RSI has also seen a bullish break.
  • Consequently, 2016 high of 17,934 stands exposed.
  • Bullish invalidation is seen only if prices see a day end closing back inside flag formation