marklavilla

Will the Dow Jones consolidate here before heading down..?

Short
DJ:DJI   Dow Jones Industrial Average Index
We see a possible head and shoulders pattern forming here as we head into a strong supply price range. I think we will test 24,000 and head down. However, news can delay the decline so it is hard to be sure exactly when we will selloff again. We closed 1 point above the 20 day EMA so the open tomorrow should tell us if this week will be bullish or sideways action.

If we see this idea play out, first target area is outlined.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.