Dow - Room for Downside
Updated
Dow once again found resistant at Jan 2018 high 26684. Price retest this price level and quickly pull back and closed below. This doesn't reverse the bullish trend of Dow, and only suggesting price in correction after hitting historical new high.
For short term price projection, please refer to the right chart, below 26617 will see price approaching 26532 and 26395 the next. The second target suggested by fibonacci spirals will see price approach previous low also 50% retracement level of the impulsive swing.
The short term selling may come to end if price trading and sustain above 26617. Thus, trader please monitor this price level for direction indication.
For short term price projection, please refer to the right chart, below 26617 will see price approaching 26532 and 26395 the next. The second target suggested by fibonacci spirals will see price approach previous low also 50% retracement level of the impulsive swing.
The short term selling may come to end if price trading and sustain above 26617. Thus, trader please monitor this price level for direction indication.
Trade closed: stop reached
Market make higher high, and higher then 26617. Trend resume up trend from correction.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.