We bring up the daily chart view for Dow Jones after quite a few trading sessions. At the moment, it looks like the indice might be carving a potential expanded flat A-B-C structure after reversing from 26950 levels last week. If this count holds well, we could see prices dropping towards at least 24600 and possibly 24250 levels going forward. As an alternate count though, the indice might have formed a major top just shy of 27000 levels and might be carving its first impulse wave lower, hinting a much deeper correction going forward. We shall bring up those possibilities as prices unfold. Ideally support should come in around 24250/600 zone for now.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.