Short
Dow Jones might have completed a running flat around 26400
Dow Jones might have completed a running flat at 26400 yesterday to terminate lower degree Wave 2. The indice looks to be setting up for a sharp reversal towards 18200, looking at the bigger picture. The conventional Head and Shoulder pattern also seems to have carved its Right Shoulder around 27600/700 levels on June 09, 2020. Probable larger degree wave counts are also suggesting Wave (1) and (2) are in place at 18200 and 27600/700 respectively. If the above holds, Dow Jones should stay below 27700 and ideally below 29600. Further it should proceed lower towards 18200, as Wave (3) progresses. A drop below 25000 interim support would accelerate towards 22800 and further. Overall, Dow Jones structure remains bearish until prices stay below 29600 mark.
Strategy:
Short against 29600, targeting below 18200 levels.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Short against 29600, targeting below 18200 levels.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.