Dow Jones should stay below 29200 handle
Dow Jones has held the classic Elliott Wave pattern 5-3 until now. The indices had earlier dropped from 29600 through 18200 in 5 waves, larger degree Wave (1) here. Subsequent rally has been corrective, hence 3 waves towards 29200, similar degree Wave (2) here. If the above holds true, the indice should ideally turn lower from here and push towards 18200 levels as Wave (3) progresses. Good to sell on rallies from here on.\
Remain short, stop @ 29600, target @ 18200 and further.
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 @ 18200 and further.
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.
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