Dow Jones wave ii of (3) in progress towards 25500/600

20 нояб. 2018 г.

Yesterday's drop towards 24900 levels might not be the beginning of wave iii yet, and there could be a surprise rally in store. We have added lower degree waves a-b-c, potentially unfolding as wave ii of a higher degree, which could still terminate around 25500/600 levels before wave iii of (3) begins is descent lower. Please note that counter trends might be trick to trade and hence avoid getting into a potential bull trap, if Dow manages to produce a sharp rally from current levels. A safe trading strategy could be to initiate short positions around 25500/600 levels, with stop above 26300 and potential targets at 24000, 23100 levels respectively. The medium term outlook for Dow Jones remains bearish until prices ideally stay below 26300 levels.


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