Stelian

DOW Chemical Company pipe top.

Short
BATS:DOW   Dow Inc
0
Dow chemical formed a pipe top a week ago and during this last trading week, there has been a downward breakout from A. This type of formation is one of the most reliable as it is occurring in a bear market. According to Bulkowski , there is a 41% chance for a pullback to price level A, so this is something to consider as a better entry for a short position compared to now.
The price target is C, where the DOW is expected to drop 3.65 % from last weeks close.
When looking out for pullbacks and placing stop losses, the price volatility for the DOW should be considered!

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.