SPDR Dow Jones Industrial Average ETF (US: DIA) price action and technical indicate a possible return to the upside testing the all-time high resistance:

1. There is a potential bullish flag in place recently and this indicate a possible bullish continuation pattern.
2. Tweezer bottom was formed yesterday with a minor RSI bullish divergence, an indication of a possible short-term upside.
3. Looking at the RSI, it’s momentum has successfully sustain above 40 support line.
4. Do take note that there still exist a bearish sell down further and should it break below US$344.00, then there is a chance it might goes to support zone 1.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA