Dow Jones (Futures) Hit Potential Resistance Around 27000
Dow Jones futures might have tested resistance around 27000 today, carving a lower high and holding below 27700 levels. The indices has carved higher degree Waves (1) and (2) around 18200 and 27700 respectively. If the proposed counts are correct, the indice should stay below 27700 mark ideally. A push through 27700 would still not change the bearish structure but need to hold below 29600 going forward. A break below the 25000 mark would be encouraging to bears and they would be poised to push further towards 23000, 20000 and beyond.
Remain short, stop above 29600, target is open.
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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 above 29600, target is open.
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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