Hello, welcome to this analysis on the DJIA.
We are looking on the 1-day chart and see that we are on the potential resistance line right now. If we break this line we could go higher to the 24640 line.
If this level remains as resistance the potential is given that we fall to the support level 22090, this would be the C of the ABC correction.
Please do not blame me for the 1-5 elliot-wave, these are just trend lines (not elliot-waves) to mark the trend.
However we are on the resistance right now and have to see how this plays out.
Happy trading everybody!
We are looking on the 1-day chart and see that we are on the potential resistance line right now. If we break this line we could go higher to the 24640 line.
If this level remains as resistance the potential is given that we fall to the support level 22090, this would be the C of the ABC correction.
Please do not blame me for the 1-5 elliot-wave, these are just trend lines (not elliot-waves) to mark the trend.
However we are on the resistance right now and have to see how this plays out.
Happy trading everybody!