Dow Jones might produce a flat before breaking 24000 levels?

21 พ.ย. 2018

We have presented an alternate scenario for Dow Jones on the daily chart here. The medium term bearish outlook remains intact for now but the indice could surprise many a traders by producing a 3-3-5 flat corrective wave structure, which could re-test 26300 levels. Please note that the above count is a probability and should not be taken as opportunity to build long positions; rather selling on rallies could be a safer trading strategy. Furthermore, if prices continue to consistently drop below 24000 levels, the above could remains void. Overall, we maintain our medium term bearish outlook with resistance strong around 26300/400 levels for now. It could be a safe strategy to remain short or sell on rallies with stop above 26400 levels and potential profits below 23000 going forward.


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