DJI breaking out, possibly heading to new highs

The DJI has broken out of the orange sideways consolidation zone. This breakout looks to be caused by the red dotted cup and handle pattern which natural extension would bring us to test the original breakdown candle from January. This could lead us to complete a larger cup and handle pattern that should extend to about 28500 by the end of the year. We will see in the next few days if this breakout holds and how things continue to play out.