Dow Jones: Short-term bounce to retest resistance
Updated
After the trade war started last Friday it's possible that this week there might be a strong bounce due to a short squeeze.
The move higher could start on "Turnaround Tuesday", after more declines on Monday this week.
Support could be somewhere between 24550 - 24650 this week.
The move higher could start on "Turnaround Tuesday", after more declines on Monday this week.
Support could be somewhere between 24550 - 24650 this week.
Note
The price could have found a low to bounce higher from. I said "support could be somewhere between 24550 - 24650 this week." Yesterday the Dow Jones fell right down into this price area. Yesterday's low on June 19 was 24568 only 18 points above the lowest low I had foreseen (24550). Yesterday's close was 24700, just 50 points above the minimum low I had foreseen (24650).
Therefore it is highly likely that the Dow Jones is going higher in the next days.
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