Dow Jones high on June 09, 2020 around 27700 has not been breached yet and ideally should hold. The higher degree wave counts are as follows: The drop between 29600 and 18200 was an impulse, Wave (1), which was followed by a zigzag corrective rally towards 27630 levels, Wave (2) here. If the above counts hold, Dow Jones must stay below 27630/40 going forward and proceed towards 23000 as highlighted here. The lower degree counts also seem to be in place as a 5-3 Elliott Wave pattern since 27630 highs. The drop towards 24843 was in 5 waves, while the rally through 26555 was corrective. If these lower degree counts hold, Dow Jones is up for a sharp reversal towards 23000 starting today or Monday.
Remain short, Stop @ 28000, target @ 23000 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 @ 28000, target @ 23000 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.
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.
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.