Dow Jones corrective rally progresses towards 25800/26000
The hourly chart presented here is indicating that Dow Jones could be into wave C rally of the projected A-B-C corrective rally that began from 24100 levels, on October 29, 2018. Believe it or not, the corrective rally has unfolded and is progressing pretty as projected earlier and resistance might be strong around the 25800/26000 levels going forward. It would be a safe trading strategy to consider taking short positions around the above levels, with potential risk above 26950 levels and target potential below 22500/23000 levels going forward. Please note that the current rally seen in the Dow Jones is corrective in nature and one should remain careful not to get trapped on the wrong side. Overall, selling on rallies could be our medium term trading strategy.
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.
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.