Dow Composite index – weak closing could signal completion of 5-

DJ:DJA   Dow Jones Composite Average Index
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  • A weak daily closing below Monday’s high of 6344 could be a signal the index has completed basic 5-wave structure.
  • A weak closing on Wednesday has already signaled a bearish price-RSI divergence.
  • Bears should observe caution as selling is likely to gather pace only if the daily candle closes below 6344.
  • Intraday dips below the same followed by a positive move could be signal of more gains ahead.
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