dow jones

Morning all,
Just muckin around with the djia chart and noticed
what could be helpful over the next week or two.
On the daily chart we have the rsi in the oversold area. Back testing this situation reveals that a bounce of some sort follows. The nature of the resultant bounce is unpredictable in size or duration admittedly as seen by checking the arrows.
The price is mid channel currently, so my feeling is a small rally perhaps, then down towards the lower channel line??
Chart looks like this - I used line chart her for resolution purposes, the down channel gets intraday touches on bar or candle chart on some of the highs and lows, to give more credibility to the existence of the formation.

Cheers

Commy