The Dow Jones is on the lows of the bullish fork that contained its movement since February 2016. The weekly chart indicates a lot of weakness.
In the last three years a long red candle has always been followed by an equally profound fall in the following two weeks. (August 2015 - January 2016 - January 2018). There are chances that the downside is not over.
There will not be a bullish reversal until it closes the week above the moving average 7 (blue line). Rebounds are possible but we do not believe in strong upward movements.
Possible falls to 24572 - 24282 - 23924. Possible rebounds at 25220 and MM7 weekly.
In the last three years a long red candle has always been followed by an equally profound fall in the following two weeks. (August 2015 - January 2016 - January 2018). There are chances that the downside is not over.
There will not be a bullish reversal until it closes the week above the moving average 7 (blue line). Rebounds are possible but we do not believe in strong upward movements.
Possible falls to 24572 - 24282 - 23924. Possible rebounds at 25220 and MM7 weekly.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.