Dow Finding Resistance on a Past Level of Support?

Here is what may turn out to be a good rocker to the down side if, the marked level on 240 world of previous support now acting as resistance holds, and if the Bearish Engulfing formation that has turned up on 60 world survives a re- test. A beautiful Bearish Shooting Star has also turned up on 240. It might have a bearish story to tell. Note that the target level is provisional. You can rely on Heikin Ashi colour switch after price hits this level to take profit, if the trade materialises. The target is also coming from the 240 world which means it will require some days to be hit.