The Dow Jones Industrial Average
has seen one of the worst drop
after 1931, around last week December 2018 and it could still produce one more bearish
swing lower before pulling back. Looking at the wave structure, a higher degree wave (3) seems to be in progress since 26000 levels printed on December 03, 2018. We can count 4 wave at a lower degree since then, and the 4th wave might have terminated at 23300/50 levels, where prices seem to be stalling at this point in time. Please note that till prices remain below 24000 levels (it is the termination point of wave i of the same degree), we could see wave v unfolding towards 20800/21000 levels respectively. Overall, the bearish
momentum is expected to continue at least till 21000 levels before a meaningful rally unfolds.
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