Johnkiew

Dow, FKLI & Hang Seng - Again The Retracement Level

DJ:DJI   Dow Jones Industrial Average Index
Again the 3 markets have rebound from recent new low. According to elliott wave and fibonacci structure, the market correction size fall between 38.2% to 61.8%. Shall the current market market to prove as trend reversal? Trader please monitor the following price level.

Dow Jones:
Retracement level at 25203, 25537 and 25871. Higher than 25871 indicate price reversal from bear market.

FKLI:
Retracement level at 1697.5, 1707.5 and 1717. Higher than 1717 indicate price reversal from bear market.

Hang Seng:
Retracement level at 25132, 25340 and 25548. Higher than 25548 indicate price reversal from bear market.

If current rally the price do not go higher than the above levels, market remain in bearish structure.
Comment: Dow failed to sustain above 25781 and this indicate the market have formed bearish structures according to the wave theory. The same set up could be found in FKLI and Hang Seng as well. Trader please play forward to get latest price structure.
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