Dow Jones might have carved a lower high around 28150 levels (spot), and has held below that until now. The indice futures are already trading lower around 27500/600 and it should break below the counter trend line support soon. The overall structure continues to remain bearish as the indice has carved larger degree Waves (1) and (2) around 18200 and 28150 levels respectively. The counter trend rally has found resistance around fibonacci 0.88 retracement of Wave (1) around 28150. If the above is correct, Dow Jones should be in for a bearish reversal from here.
Remain short, stop @ 29600, target is open.
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 @ 29600, target is open.
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.