Dow Diamonds (DIA) Consolidating

The DIAs are consolidating around 110.00, which represents a Bull Flag-type of pattern that should resolve itself in another pop towards a test of the May-July resistance line in the vicinity of 111.50/70. Only a sustained decline below 109 will begin to compromise the constructive upmove from Tuesday's low. From a longer perspective, the June-July lows could represent the two coordinates of a large Double Bottom, which will trigger a powerful upside breakout upon a hurdle of the 113.00 resistance plateau.

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