Dow Jones seems to have carved Wave 2 of (3) around 26640
Dow Jones spot had rallied yesterday towards 26640 before reversing lower again. The lower degree wave counts are looking more clear now: The drop between 27580 and 24843 was in 5 waves, labelled as Wave 1. The subsequent rally unfolded as a flat and finally terminated around 26640 yesterday, labelled as Wave 2. If the above counts are correct, we are going to witness a sharp drop towards 23000 and further, as Wave 3 of larger degree Wave (3) begins to unfold. Ideally, Dow Jones should also remain below 26640, going forward. Overall bearish structure prevails until prices stay below 29600 levels.
Remain short, stop @ 29600, target @ 23000, 20000 and lower
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 29600, target @ 23000, 20000 and lower
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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