Dow Jones Potential Flat Corrective Structure Intact:?
The 4H chart view for Dow Jones might be suggesting that an A-B-C potential flat still remains intact, even after intraday highs at 25720/30 levels today (futures). Looking at the entire wave structure from Jan-Feb 2018, the indie had dropped lower 5 waves to 23,000 levels, forming an impulse. The expected corrective rally turned out to be a complex A-B-C flat as labelled here, after consolidating for several months. Please note that prices can still test up to 25800 levels, where wave A potentially terminated. If the above wave count holds true then we could see a potential bearish reversal from around 25650/750 levels. Probable direction could remain on the south side until prices stay below 26700/800 levels.
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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.