US 30 Index showed signs of recovery

During Wednesday, March 25, the US 30 Index reversed north from the 18,274.45 level. The Index has already gained 18.00%.  

The reason for the upturn is news about $2T US fiscal stimulus package. Market participants became more optimistic about minimizing the economic devastation caused by the coronavirus outbreak.  

However, from a theoretical perspective, it is likely that the Index could rise within the descending channel. If the given trend holds, some downside potential could continue to prevail.