Hello Fellow Traders,
There appears to be a rising wedge formation on the DJI. The initial drop brought the DJI to the 38.2% fib line. If/When this rising wedge breaks down it should bring it back to the 38.2% fib. I am not going to foretell the future, but a retrace to 50% (22358) and 78.6% (19916.59) wouldn't be a wild guess.
Let's see how this goes. Only time will tell.
There appears to be a rising wedge formation on the DJI. The initial drop brought the DJI to the 38.2% fib line. If/When this rising wedge breaks down it should bring it back to the 38.2% fib. I am not going to foretell the future, but a retrace to 50% (22358) and 78.6% (19916.59) wouldn't be a wild guess.
Let's see how this goes. Only time will tell.
Trade active:
It appears rising wedge is confirmed. Watching.
