Dow Jones hits close to 25500 levels. Brief pullback now?

30 พ.ย. 2018

The Dow Jones almost hit the first soft target at 25480 levels yesterday before pulling back lower again. It is quite possible that we see a brief pullback lower before the rally continues. Please note that it was close to taking out the resistance at 25500 levels as discussed earlier. Looking into the wave structure from here, the indice is expected to pullback lower towards 24900/25000 levels at least, before the rally could resume higher. If Wave (2) is unfolding as a flat, we could see prices pushing close to 26300 levels before a bearish reversal. However, if a running flat or a triangle is underway, we could see it terminating ahead of 26300 levels before turning lower again. Overall, a medium term bearish outlook remains until prices stay below 26950 levels. We shall present the most probable structure here as price action unfolds further.


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