Dow Jones remained just shy of the critical 23881 levels yesterday and reversed lower from 23864 levels respectively. Until spot prices remain below 23881 levels, we shall maintain a probable wave iv termination count as displayed on the daily chart here. Please note that even if Dow Jones manages to break above the wave i lows, the higher degree wave counts shall still remain valid for further bearish moves. A strong resistance prevails at 26000 levels and until prices remain below that, a corrective rally is always a possibility. For now, we maintain that wave iv termination still remains valid and that prices could resume lower ay time soon. Overall Dow Jones remains a great potential candidate to sell on rallies.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.