Short
Bearish for next 1-2 weeks
Dow Transports did rally into the 0.50% fib.
The nature of the decline that is coming will be crucial .
If the Transports do not manage the following week to keep above the red VTL line and even worse they broke the cycle low at 10039 ,
then the decline will be steeper .
It all has to do with the correction that is coming.
If the correction is minor we would expect a higher high bounce after that
If the correction is steeper then the bounce will be minimal to 23-38% fib before resuming to lower prices.
The nature of the decline that is coming will be crucial .
If the Transports do not manage the following week to keep above the red VTL line and even worse they broke the cycle low at 10039 ,
then the decline will be steeper .
It all has to do with the correction that is coming.
If the correction is minor we would expect a higher high bounce after that
If the correction is steeper then the bounce will be minimal to 23-38% fib before resuming to lower prices.
What is your business plan ?
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.
What is your business plan ?
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.