When you look at the chart, you can clearly see lower highs being printed, this is marked with blue down arrows.
On top of the lower highs, we also have hidden divergence marked on both the and , which are also in a downtrend.
Both the and are also trending down and getting closer to entering the zone. A strong drop is scheduled to happen soon.
I am looking first at 0.618 Fib. retracement for support followed by 1 Fib or EMA200 (orange line).
Conditions for change: For this analysis to become invalid, the DJI would need to move up, close, and remain above 26951.8, which is its all-time high. This is a very unlikely scenario at this point, but if you are trading this or any other asset, it is always smart to remain open and be prepared for all scenarios.
With that said, I believe the DJI will continue with its tendencies and decline in value in the coming weeks and months... What's your opinion?
Share in the comments section below.
Feel free to hit like to show your support.
Thanks a lot for reading.
S&P 500 Index CRASH (The Drop Starts)
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