The Dow is already in a 60 min uptrend and it looks like the trend may continue to go up. The Dow has already broken out of a 2 hour ascending triangle which I showed you in the past analysis.
The Dow is now is a strong 60 min uptrend. It is staying nicely above the rising 60 min 20 MA, 50 MA and 200 MA. This is usually a sign of more bullish things to come.
At this moment, the Dow might be forming a 60 min ascending triangle. These patterns in an uptrend is good as it helps to absorb supply on the left and gets the index ready to shoot up higher.
If Dow manages to break above the top of the pattern, we will continue to have a nice bull run up.
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